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  1. business
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  3. using the following income statements, perform the

using the following income statements, perform the calculations needed for horizontal analyses ...

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Accounting

using the following income statements, perform the calculations needed for horizontal analyses image
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 Current Previous Dollars Percentage Net Sales $ 107,000 $ 78,500 $ 28,500 Cost of Goods Sold 61,500 46,750 14.750 Gross Profit 45,500 31,750 13.750 Selling, General, and Administrative Expenses 7,600 3,800 3,800 Income from Operations 37,900 27,950 9,950 Interest Expense 3,350 4,450 (1,100) Income before Income Tax 34,550 23,500 11,050 Income Tax Expense 10,365 7,050 3,315 Net Income $ 24,185 $ 16,450 $ 7,735 ces

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