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 Previous $ 102,000 $75,000 59.000 45,500 43.000 30,500 8600 4.300 34.400 26,200 3.100 3,950 31,300 22 250 9.390 6,675 $ 21,910 $ 15,575