2 oress Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.) LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Current Previous Net Sales $180,000 % $ 123,000 elook Cost of Goods Sold 90,000 % 69,000 Print Gross Profit 90,000 % 54,000 Selling, General, and Administrative Expenses 13.800 % 7.700 Income from Operations 76,200 % 46,300 % Interest Expense 4,000 % 6,150 % Income before Income Tax 71,600 % 40,150 % Income Tax Expense 21,480 % 12,045 % Net Income $ 50,120 % $ 28.105