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 Current Previous Change in Dollars Percentage Net Sales $ 105,000 % $ 77,500 46,250 Cost of Goods Sold 60,500 % 31,250 % 44,500 8,000 36,500 4,000 % 27,250 % Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income 3,250 4,250 % % 33,250 9,975 $ 23,275 23,000 6,900 % % $ 16,100