Conduct horizontal analysis for the income statement for two separate companies

Below are the requirements for this project:

1.) HORIZONTAL ANALYSIS--Using Excel, complete a horizontal analysis of the INCOME STATEMENT for the TWO most recent years for both Lowes and Home Depot. You only need to include the accounts starting with Sales and ending with Net Income in the analysis. Provide a brief analysis of significant observations for each company.  For example, “compared to the previous year, sales for company A have declined significantly. This could indicate a decline in market share for company A.  The notes to the financial statement for Company A state that the decline was due to X and X factors.”  The horizontal analysis is worth 2.5 pts. each and the interpretation is worth 2.5 pts. each for a total of 10 pts.

***Open the attached PDF's for annual financial reports for both companies:

***Open the attached financial ratios cheat sheet