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	$175,000		%	$120,000		%
Cost of Goods Sold	88,000			67,500
Gross Profit	87,000			52,500
Selling, General, and Administrative Expenses	13,500			7,500
Income from Operations	73,500			45,000
Interest Expense	4,500			6,000
Income before Income Tax	69,000			39,000
Income Tax Expense	20,700			11,700
Net Income	$48,300		%	$27,300		%