Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.) $ Previous 123,000 69,000 54,000 LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Current Net Sales $ 180,000 % Cost of Goods Sold 90,000 Gross Profit 90,000 Selling, General, and Administrativo 13,800 Expenses Income from Operations 76,200 Interest Expense 4,600 Income before Income Tax 71,600 Income Tax Expense 21,480 Not Income $ 50,120 7.700 46,300 6,150 40,150 12,045 28.105 $