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 Net Sale 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 Saved $ 107,00 Previous 78,500 61,500 46,750 45,500 31,750 7,600 3,800 37,900 27,950 3,350 4,450 34,550 23,500 10,365 7,050 $ 24,185 $ 16,450 Change in Dollars Percentage % % % % % % % % %

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.)