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 Percentage Current Previous Dollars 100,000 $ 75,000 58,000 Net Sales %24 Cost of Goods Sold 45,000 30,000 4,500 Gross Profit 42,000 Selling, General, and Administrative Expenses 9,000 Income from Operations Interest Expense 33,000 25,500 3,000 3,750 30,000 21,750 6,525 Income before Income Tax Income Tax Expense 9,000 Net Income 21,000 15,225