OC M13-1 (Static) Calculations for Horizontal Analyses [LO 13-2] 5 5 points Using the following income statements, perform the calculations needed for horizontal analyses. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) LOCKEY FENCING CORPORATION Income Statements eBook For the Years Ended December 31 Change in Dollars Percentage Print Current Previous Net Sales $ $ % 75,000 45,000 Cost of Goods Sold 100,000 58,000 42,000 o References 9,000 Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income 33,000 3,000 30,000 4,500 25,500 3,750 21,750 30,000 9,000 6,525 $ 21,000 $ 15,225 % 7 M13-1 (Algo) Calculations for Horizontal Analyses [LO 13-2] 5 points Using the following income statements, perform the calculations needed for horizontal analyses. (Decreases should be indicated by a minus sign. Round percentage values to 1 decimal place.) LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 eBook Print Change in Dollars Percentage % lo References 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 Previous $ 116,000 $ 83,000 66,000 49,000 50.000 34,000 5,800 2,900 44.200 31,100 3.800 5,350 40,400 25,750 12.120 7,725 $ 28.280 $ 18,025 %