PLEASE HELP SOLVE AND EXPLAIN

Income statements for Fanning Company for 2018 and 2019 follow: FANNING COMPANY Income Statements 2019 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income $200,400 $189,408 121,980 19,200 15,000 5,800 161,900 18,580 6,6003198 143,900 21,200 13,000 3.800 181,900 18,580 3.100 $11,980 15,400 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019. b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. Complete this question by entering your answers in the tabs below Required A Required B Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019 (Negative answers should be indicated by a minus sign. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4). FANNING COMPANY Horizontal Analysis of Income Statements Percentage Change over 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Complete this question by entering your answers in the tabs below Required ARequiredB Perform a vertical analysis, showing each income statement component as a percentage of sales for each year. (Percentages may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e., .234 should be entered as 23.4.) FANNING COMPANY Vertical Analysis of Income Statements Percentage of Sales 2019 Percentage of Sales 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income