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
	Current	Previous	Dollars	Percentage
Net Sales	$107,000	$78,500			%
Cost of Goods Sold	61,500	46,750
Gross Profit	45,500	31,750
Selling, General, and Administrative Expenses	7,600	3,800
Income from Operations	37,900	27,950
Interest Expense	3,350	4,450
Income before Income Tax	34,550	23,500
Income Tax Expense	10,365	7,050
Net Income	$24,185	$16,450			%