Which of the following does horizontal analysis include?

i. analysis of a financial statement that reveals the relationship of each statement item to a specified base, which is the 100% figure.

ii. practice of comparing a company with other companies that are leaders.

iii. study of percentage changes in comparative financial statements across consecutive financial periods.

iv. analysis in which percentages are computed by selecting a base year as 100% and expressing amounts for following years as a percentage of the base amount.

a.

i., ii, & iii.

b.

iii. & iv.

c.

iii. only

d.

ii., iii. & iv.