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	$200,000		%	$135,000		%
Cost of Goods Sold	98,000			75,000
Gross Profit	102,000			60,000
Selling, General, and Administrative Expenses	15,000			8,500
Income from Operations	87,000			51,500
Interest Expense	5,000			6,750
Income before Income Tax	82,000			44,750
Income Tax Expense	24,600			13,425
Net Income	$57,400		%	$31,325		%