M13-2 (Algo) Calculations for Vertical Analyses [LO 13-3] Using the following income statements, perform the calculations needed for vertical analyses. (Round percentage values to 1 decimal place.) LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 Current Previous Net Sales $ 145,000 % $ 102,000 % Cost of Goods Sold 76,000 69,000 11,700 58,500 43,500 6,300 37,200 57,300 Gross Profit Selling, General, and Administrative Expenses Income from Operations Interest Expense Income before Income Tax Income Tax Expense Net Income 3,900 53,400 5,100 32,100 9,630 22,470 16,020 $ 37,380 % $ % 1 M13-10 (Algo) Inferring Financial Information Using the P/E Ratio [LO 13-4] 5 points Last year, Big W Company reported earnings per share of $3.50 when its stock was selling for $87.50. If its earnings this year increase by 10 percent and the P/E ratio remains constant, what will be the price of its stock? (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Stock Price eBook Print References