The income statement for Postmedia Network Canada Corp. follows:

Instructions
(a) Using horizontal analysis, calculate the horizontal percentage of a base-year amount, assuming 2010 is the base year.
(b) Using vertical analysis, calculate the percentage of the base amount for each year.
(c) Identify any significant changes from 2010 to 2012, including the impact of discontinued operations on your analysis.

POSTMEDIA NETWORK CANADA CORP. Income Statement Year Ended August 31 (in thousands) 2011 $898,888 819,921 2012 2010 $122,094 133,650 33,062 (44,618) Revenues Operating expenses Other expenses Loss from continuing operations before income tax Income tax expense Loss from continuing operations Income from discontinued operations, net of income tax Loss $831,877 792,619 76,533 (37,275) 91,121 (12,154) (12,154 (44,618) (37,275) 14,053 2,565 $(23,222) 9,589) $44,618)