Question: I need both the horizontal and vertical analysis for the income statement. I filled out the excel sheet to the best of my knowledge. Here's

I need both the horizontal and vertical analysis for the income statement. I filled out the excel sheet to the best of my knowledge. Here's the spreadsheet:

Revenue 2020 2019 2018
Total Revenue $220,747.00 $213,883.00 $225,847.00
Cost of Revenue 53,768 46,291 39,748
Gross Profit 274,515 260,174 265,595
Operating Expenses
Research Development 18,752 16,217 14,238
Selling General and Administrative 19,916 18,245 16,705
Non Recurring
Others
Total Operating Expenses 38,668 34,462 30,943
Operating Income or Loss 235,847 225,712 234,652
Income from Continuing Operations 66,288 63,930 70,898
Total Other Income/Expenses Net 803 1,807 2,005
Earnings Before Interest and Taxes 67,091 65,737 72,903
Interest Expense
Income Before Tax
Income Tax Expense 9,680 10,481 13,372
Minority Interest
Net Income From Continuing Ops $57,411.00 $ 55,256.00 $ 59,531.00
Nonrecurring Events
Discontinued Operations 1202 3802 -3407
Extraordinary Items -63 25 1
Effect of Accounting Changes 1139 3827 -3406
Other Items 42 2781 3026
Net Income
Net Income 57,453 58,037 56,505

  1. Complete the horizontal analysis column of the prior 3
  2. Complete the vertical analysis column for the prior 3

Address in the following questions in the comments section of both the Balance Sheet and Income Statement tabs:

  1. What accounts changed for the period and how did this affect the financial analysis calculation?
  2. Why did the account change during the period? Explain what business decisions may have caused the change.
  3. How does this change influence the company's performance?

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