Chapter 13 Homework Help Save 1 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 Year Ended December 31 3 solnts Change in Dolan Porcentage co Print References Not Bales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Not Income Current Previous $ 118,000 $ 84,000 67,000 49.500 51,000 34,500 5.400 2,700 45,000 31,800 3,900 5,550 41,700 26.250 12,510 7.875 $ 29,190 $ 18,375