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M13-1 Calculations for Horizontal Analyses [LO 13-2] Using the following income statements, perform the caiculations needed for horizontal analyses. (Decreases should be indicated by a

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M13-1 Calculations for Horizontal Analyses [LO 13-2] Using the following income statements, perform the caiculations needed for horizontal analyses. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) lyses. (Decreases should be indicated by a LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Change in Current Previous Dollars Percentage $ 106,00D 78,000 46,500 Net Sales 61,000 Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense 5,00031,500 3,900 37,200 27,600 4,350 23,250 6,975 $23,730 16,275 7,800 ,300 33,900 10,1701 Income before Income Tax income Tax Exponse Net Income

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