Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.) % LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Current Net Sales $ 170,000 Cost of Goods Sold 86,000 % Gross Profit 84000 % Selling, General and Administrative Expenses 13.200 % Income from Operations 70 800 % Interest Expense 4.400 % Income before Income Tax 66.400 % 19 920 % Income Tax Expense % $ 46.480 Net Income Previous $ 117,000 66.000 61,000 7,300 43.700 5,850 37.850 11.355 $ 26,495 selle %