A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto:

McKenzie Sales, Ltd. Comparative Income Statement
	This Year			Last Year
Sales	$	7,340,000		$	5,578,400
Cost of goods sold		4,600,000			3,509,500
Gross margin		2,740,000			2,068,900
Selling and administrative expenses:
Selling expenses		1,389,000			1,072,500
Administrative expenses		707,500			617,500
Total expenses		2,096,500			1,690,000
Net operating income		643,500			378,900
Interest expense		105,000			92,000
Net income before taxes	$	538,500		$	286,900

Members of the companys board of directors are surprised to see that net income increased by only $251,600 when sales increased by $1,761,600.

Required:

1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3).)

	This Year		Last Year
Sales	100.0	%	100.0	%
Cost of goods sold		%		%
Gross margin	100.0	%	100.0	%
Selling and administrative expenses:
Selling expenses		%		%
Administrative expenses		%		%
Total selling and administrative expenses	0.0	%	0.0	%
Net operating income	100.0	%	100.0	%
Interest expense		%		%
Net income before taxes	100.0	%	100.0	%

PLEASE PROVIDE ANSWERS TO THE BELOW QUESTIONS:

Cost of Goods Sold for Year 1 & Year 2

Selling Expenses for Year 1 & Year 2 Administrative Expenses for Year 1 & Year 2

Interest Expense for Year 1 & Year 2