Question: 1 ed Learn Business Comm .. Sovel Help Save & Exit Submit Ch 13 Required Homework M13-1 (Algo) Calculations for Horizontal Analyses [LO 13-2] Using

ed Learn Business Comm .. Sovel Help Save & Exit Submit Ch 13 Required Homework M13-1 (Algo) Calculations for Horizontal Analyses [LO 13-2] 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.) 4 points LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 38 Change in Current. Previous Dollars Percentage Net Sales $ 115,000 8 82.500 Cost of Goods Sold 65.500 48.750 Gross Profit 49.500 33 750 Selling, General, and Administrative Expenses 6,000 3:000 Income from Operations 43,500 30,750 Interest Expense 3.750 5.250 Income before Income Tax 39,750 25,500 Mc Graw

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