pter 21 in your textbook contains examples that will be helpful for completing the exercises below he information below, prepare a vertical analysis for the income statement for 2017 2017 1. Using t 2. Using the information below, prepare a hortzontal analysis of the income statement from 2017 3. In which areas, if any, has the company seen increases since 2016? 4. In which areas, if any, has the company seen decreases since 2010? 5. compute the following ratio and show the calculating your ratio. answer to two digits past the decimal. Use an Excel formula in the cell indicated calculating ethe following rate cmpany seen eases since 2hs income statt Operating ratio: 6. Using table 21-1, how would you interpret this ratio? Artie's Painting Income Statement For the Years Ending December 31, 2016 and 2017 236 28237 Net sales Cost of goods sold Gross profit Operating expenses Net income 2017 $24,789 15,323 9,466 3,873 5,593 2016 $23,642 14,239 9,403 3,702 5,701