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	$111,000	$80,500			%
Cost of Goods Sold	63,500	47,750
Gross Profit	47,500	32,750
Selling, General, and Administrative Expenses	6,800	3,400
Income from Operations	40,700	29,350
Interest Expense	3,550	4,850
Income before Income Tax	37,150	24,500
Income Tax Expense	11,145	7,350
Net Income	$26,005	$17,150			%