Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.) Net Sales Cost of Goods Sold LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Current Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income $ 205,000 100,000 105,000 15,300 89,700 5,100 84,600 25,380 $ 59,220 % % % % % % % % % $ $ Previous 138,000 76,500 61,500 8,700 52,800 6,900 45,900 13,770 32,130 % % % % % % % % %

Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.)