Answer: D. percentages only for each line item.
Horizontal analysis, also known as trend analysis, is a method of financial statement analysis that compares line items over time by expressing them as a percentage of a base year. The base year is typically the most recent year, and the comparison is typically made to the prior year. In horizontal analysis, the increases and decreases are shown as percentages for each line item, so that the changes in the line items can be easily compared and analyzed. This is different from vertical analysis, which shows the line items as a percentage of a total, such as total assets or total revenue.
Explanation: