Check m Exercise 13-3A Horizontal and vertical analysis LO 13-1 ncome statements for Fanning Company for Year 3 and Year 4 follow: FANNING COMPANY Income Statements Year 4 Sales Cost of goods solod Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Year 3 $200,200 $188,20e 120,380 18,600 12,880 14,880 5,980 $179,600 $159,680 28,688 3,808 14,808 16,880 142,300 28,600 3,900 28,680 5,800 5.888 Requirecd 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 Prey 10f 4111 Next > to search Saved Required A Required B Perform a horizontal analysis, showing the percentage change in each income statement c 4. (Negative answers should be indicated by a minus sign. Round your answers to 1 decim entered as 23.4).) FANNING COMPANY Horizontal Analysis of Income Statements Percentage Change over Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income (loss) Required B> Prey 1 of 4 Next > to search . Saved Required ARequiredB Perform a vertical analysis, showing each income statement component as a percentage of sale may not add exactly due to rounding. Round your answers to 1 decimal place. (i.e, .234 should FANNING COMPANY Vertical Analysis of Income Statements Percentage of Sales Year 4 Percentage of Sales Year 3 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income Required A Prey 10f 4 Next> search 1 144