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 Ince Statements For the Years Ended December 31 Current Previous Change in Dollars Percentage Net Sales $ 112,000 $ 81,000 % Cost of Goods Sold 64,000 48,000 Gross Profit 48,000 33,000 Selling, General, and Administrative Expenses 6,600 3,300 Income from Operations 41,400 29,700 Interest Expense 3,600 4,950 Income before Income Tax 37,800 24,750 Income Tax Expense 11,340 7,425 Net Income $ 26,460 $ 17,325