RUNDLE COMPANY Income Statements Year 4 Sales $201,600 Year 3 $181,600 Cost of goods sold 143,400 121,400 Selling expenses 21,300 19,300 Administrative expenses: 12,500 14,500 Interest expense 3,700 5,700 Total expenses $180,900 $160,900 Income before taxes Income taxes expense Net income 20,700 5,200 20,700 3,800 $ 15,500 $ 16,900 Saved Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between Year 3 and Year 4. 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 Year 3 and Year 4. (Negative answers should be indicated by a minus sign. Round your percentage answers to 1 decimal place. (i.e., 0.234 should be entered as 23.4).) RUNDLE COMPANY Horizontal Analysis of Income Statements Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Percentage Change over Year 3 % %