Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.)

LOCKEY FENCING CORPORATION
Income Statements
For the Years Ended December 31
	Current			Previous
Net Sales	$185,000		%	$126,000		%
Cost of Goods Sold	92,000			70,500
Gross Profit	93,000			55,500
Selling, General, and Administrative Expenses	14,100			7,900
Income from Operations	78,900			47,600
Interest Expense	4,700			6,300
Income before Income Tax	74,200			41,300
Income Tax Expense	22,260			12,390
Net Income	$51,940		%	$28,910		%