RUNDLE COMPANY Income Statements Year 4 Sales $ 201,800 Cost of goods sold 144,000 Selling expenses 20,300 Administrative expenses 12,300 Interest expense 3,700 Total expenses $180,300 Income before taxes 21,500 Income taxes expense 6,100 Net income $ 15,400 Year 3 $181,888 122,000 18,300 14,30 5,700 $160, 300 21,500 3.900 $ 17,600 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 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 percentage answers to 1 decimal place. (.e., 0.234 should be entered as 23.4).) RUNDLE COMPANY Vertical Analysis of income Statements Percentage of Percentage of Sales Year 4 Sales Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income 56 %