E connect ACCOUNTING hapter 13 Hw Question 2 (of 6) value 2.50 points M13-2 Calculations for Vertical Analyses [LO 13-3] 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 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 $ 220,000 106,000 114,000 16,200 97,800 5,400 92,400 27.720 $ 64,680 %| $ 147,000 81,000 66,000 9,300 56,700 7,350 49,350 14,805 %| $ 34,545 References eBook&Resources Worksheet Difficulty: 2 Medium M13-2 Calculations for Vertical Learning Objective: 13-03 Use vertical (common size) analyses to understand important Analyses ILO 13-3 O Type here to search