Refer to the calculations from M13-2. Which of the ratios from Exhibit 13.5 have been included in these calculations? Have these two ratios improved or deteriorated in 2013 com-pared to2012?

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LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 2013 2012 $100,000 58,000 42,000 只100 Net Sales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income $75,000 45,000 30,000 4,500 25,500 3,750 21,750 6,525 $15,225 3,000 30,000 只120 21,000