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Income statements for Walton Company for 2018 and 2019 follow: WALTON COMPANY Income Statements 2019...

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Accounting

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Income statements for Walton Company for 2018 and 2019 follow: WALTON COMPANY Income Statements 2019 2018 Sales Cost of goods sold Selling expenses Administrative expenses Interest expense Total expenses Income before taxes Income taxes expense Net income $200,500 $180,500 142,400 120,400 19,800 14,200 5,700 $180,100 $160,100 20, 400 6, 6005,400 13,800 17,000 21,800 12,200 3, 700 20, 400 Required a. Perform a horizontal analysis, showing the percentage change in each income statement component between 2018 and 2019 b. Perform a vertical analysis, showing each income statement component as a percentage of sales for each year

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