Type your question here NG M13-1 Calculations for Horizontal Analyses Using the

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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

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2013 2012 $ Change % Change
Amounts Amounts

Net Sales 100000 75000 25000 33% Cost of Goods Sold 58000 45000 13000 28.9% Gross Profit 42000 30000 12000 40% Selling, General and Administrative Expenses 9000 4500 4500 100% Income from Operations 33000 25500 7500 29.4% Interest Expense 3000 3750 -750 -20% Income before Income Tax 30000 21750 8250 37.9% Income Tax Expense 9000 6525 2475 37.9% Net Income 21000 15225 5775 37.9%

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