Problem # 4 - Horizontal & Vertical Financial Analysis Assume the average cost of computer equipment fell 21.6 percent between 2012 and 2013. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended December 31, 2013 2013 $100,700 61,800 Sales Revenues Cost of Goods Sold 2012 $125,065 75,039 54 Gross Profit Selling, General, and Administrative Expenses Interest Expense 38.900 30,300 587 50,026 30,300 450 Income before Income Tax Expense Income Tax Expense 8,013 4,802 19,276 6,220 Net Income $ 3,211 $ 13,056