Question

Using the following income statements, perform the calculationsneeded for horizontal analyses. (Decreases should be indicated by aminus sign. Round percentage values to 1 decimal place.)

LOCKEY FENCING CORPORATION Income Statements

For the Years Ended December 31

Net Sales Current $104,000 Previous $77,000Need to know Change in Dollar $___ & Change in percentage%___

Cost of Goods Sold Current $60,000 Previous$46,000 Need to know Change in Dollar $_____ & Change in%_____

Gross Profit Current $44,000 Previous $31,000Need to know Change in $_____ & Change in %______

Selling, General, and Administrative ExpensesCurrent $8,200 Previous 4,100 Need to know change in $___ andchange in %___

Income from Operations Current $35,800 Previous26,900 Need to know Change in $____ & change in ____

Interest Expense Current $3,200 Previous $4,150Need to know change in $___ & change in %___

Income before Income Tax Current $32,600Previous $22,750 need to know change in $ __ and change ion%___

Income Tax Expense Current 9,780 Previous 6,825need to know change in $__ and change in %__

Net Income Current $22,820 Previous $15,925need to know change in $___ and change in %___

 

 



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