52F%252Fims.mheducation.com%252Fmg 3 Ex & Prob Saved 1 Exercise 13-3A Horizontal and vertical analysis LO 13-1 Income statements for Vernon Company for Year 3 and Year 4 follow. 02:5131 VERNON COMPANY Income Statements Year 4 Sales $200, 300 Cost of goods sold 143,600 Selling expenses 20,500 Administrative expenses 12,300 Interest expense 3,500 Total expenses $179,900 Income before taxes 20,400 Income taxes expense Net income $ 14,600 Book Year 3 $160,300 121,600 18,500 14,300 5,500 $159,900 20,400 3,200 $ 17,200 Hint 5,800 Punt rences 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 answers to 1 decimal place. (.e. 234 should be entered as 23.4):) 1 of 2 Next >