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A Saved Using the following income statements, perform the calculations needed...

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Accounting

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A Saved Using the following income statements, perform the calculations needed for horizontal analyses. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Change in Dollars Percentage Net Sales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income Current $ 114,000 65,000 49,000 6,200 42,800 3,700 39,100 11,730 $ 27,370 Previous $ 82,000 48,500 33,500 3,100 30,400 5,150 25,250 7,575 $ 17,675

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