ari File Edit View History Bookmarks Window Help ezto.mheduc Chapter 13 Hw Course Information-ACCT-1211-W04-16162-SU-2018 value: 2.50 points M13-1 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.) LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Change in Current Previous Dollars Percentage 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 103,000 76,500 45,750 43,500 30,750 4,200 35,100 26,550 4,050 22,500 6,750 $ 22,365 15,750 59,500 8,400 3,150 31,950 9,585 References eBook&Resources Worksheet Difficulty: 2 Medium