M13-3 Interpreting Horizontal Analyses [LO 13-5] Use the following income statements. points Sipped LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Previous $75.000 45.00 3e.ee 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 Current $100,eee 58,888 42.000 9.ece 33,680 3.ee 30,00 9,888 $ 21.00 25,500 3,750 21.750 6,525 $15,225 References 1. What are the two most significant year-over-year changes in terms of dollars? 2. What are the two most significant year-over-year changes in terms of percentages? Required 1 Required 2 What are the two most significant year-over-year changes in terms of dollars? (Select all that apply.) Net Sales Cost of Goods Sold Gross Profit Seling. General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income Required 1 Required 2 >