M13-1 using the following income statements, perform the

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          Amounts

Net Sales $100,000.00         $75,000.00 

Cost of Goods Sold   $58,000.00         $45,000.00 

Gross Profit   $42,000.00         $30,000.00 

Selling, General, and Administrative Expenses $9,000.00 $4,500.00 

Income from Operations$33,000.00 $25,500.00 

Interest Expense $3,000.00 $3,750.00 

Income before Income Tax  $30,000.00 $21,750.00 

Income Tax Expense $9,000.00 $6,525.00 

Net Income $21,000.00 $15,225.00 



Calculate your order
Pages (275 words)
Standard price: $0.00
Client Reviews
Our Guarantees
100% Trustworthy
Information about client is confidential and never disclosed to third parties.
Original Writing
We complete all papers from scratch. You can get a plagiarism report.
Timely Delivery
No missed deadlines – 97% of assignments are completed in time.
Money Back
If you're confident that a writer didn't follow your order details, ask for a refund.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
Power up Your Academic Success with the
Team of Professionals. We’ve Got Your Back.
Power up Your Study Success with Experts We’ve Got Your Back.