Using the following income statements perform the calculations needed for horizo

Using the following income statements perform the calculations needed for horizontal analyses. Round percentages to one decimal place. LOCKEY FENCING CORPORATION Income Statements For the year ended December 31 2013 2012 Amounts AmountsNet Sales $100000.00 $75000.00Cost of Goods Sold$58000.00 $45000.00Gross Profit$42000.00 $30000.00Selling General and Administrative Expenses$9000.00 $4500.00Income from Operations$33000.00 $25500.00Interest Expense$3000.00 $3750.00Income before Income Tax$30000.00 $21750.00Income Tax Expense$9000.00 $6525.00Net Income $21000.00 $15225.00