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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. (Decreases should be...

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Accounting

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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 Current Previous Change in Dollars Percentage Net Sales % Cost of Goods Sold % Gross Profit % % Selling, General, and Administrative Expenses Income from Operations Interest Expense $ 103,000 $ 76,500 59,500 45,750 43,500 30,750 8,400 4,200 35,100 26,550 3,150 4,050 31,950 22,500 9,585 6,750 $ 22,365 $ 15,750 % % Income before Income Tax % Income Tax Expense % Net Income %

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