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	$112,000	$81,000			%
Cost of Goods Sold	64,000	48,000
Gross Profit	48,000	33,000
Selling, General, and Administrative Expenses	6,600	3,300
Income from Operations	41,400	29,700
Interest Expense	3,600	4,950
Income before Income Tax	37,800	24,750
Income Tax Expense	11,340	7,425
Net Income	$26,460	$17,325			%