Using the following income statements, perform the calculations needed for vertical analyses. (Round your percentage answers to 1 decimal place.) LOCKEY FENCING CORPORATION Income Statements For the Year Ended December 31 Current Previous Net Sales $ 129,000 $ 190,000 94,000 Cost of Goods Sold 72,000 Gross Profit 96,000 57,000 Selling, General, and Administrative Expenses 14.400 8,100 Income from Operations 81,600 48,900 Interest Expense 4,800 6.450 Income before Income Tax 76,800 42,450 23,040 Income Tax Expense 12,735 $ 53,760 Net Income 29,715