7 M13-2 (Algo) Calculations for Vertical Analyses (LO 13-3] 3 points 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 $ 140,068 %$90.000 Cost of Goods Sold 74,000 % 57.000 Gross Prof 66.000 % 42,000 Selling General, and Administrative Expenses 11,400 N 6,100 Income from Operations 54.600 % 35,900 Interest Expense 3.800 % 4.950 Income before Income Tax 50,000 % 30.950 Income Tax Expense 15.240 % 9.285 Net Income $ 35.560 $ 21.665 Check my worke