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 Change in Dollars Percentage 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 $ 100,000 58,000 42,000 9,000 33,000 3,000 30,000 9,000 $ 21,000 Previous $ 75,000 45,000 30,000 4,500 25,500 3,750 21,750 6,525 $ 15,225