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NG M13-1 Calculations for Horizontal Analyses Using the following income statements, perf die calculauivus luniaostal analyses. Round percentages to one decimal place. LOCKEY FENCING CORPORATION Income Statements For the Years Ended December 31 2013 2012 $100,000 $75,000 Net Sales 58,000 45,000 Cost of Goods Sold 42,000 30,000 Gross Profit 0,000 Selling, General, and ministrntive Expense Ad 4,500 25,500 33,000 Income from Operations 3,000 3,750 Interest Expense 21,750 Income before Income Tax 30,000 Income Tax Expense 9,000 6.525 21,000 5,225 Net Income LO 13-2