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

McKenzie Sales, Ltd. Comparative Income Statement
	This Year			Last Year
Sales	$	7,320,000		$	5,563,200
Cost of goods sold		4,590,000			3,506,000
Gross margin		2,730,000			2,057,200
Selling and administrative expenses:
Selling expenses		1,392,000			1,079,000
Administrative expenses		703,500			612,500
Total expenses		2,095,500			1,691,500
Net operating income		634,500			365,700
Interest expense		105,000			88,000
Net income before taxes	$	529,500		$	277,700

Members of the companys board of directors are surprised to see that net income increased by only $251,800 when sales increased by $1,756,800.

(I was only able to find the Cost of Goods Sold and Gross Margin. Not sure if it's correct though.)

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 100.0 % 62.71% 37.3 % Last Year 100.0% 63.0% 37.0 % Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % % 0.0 % 37.3 % % 37.3 % % % 0.0 % 37.0 % % 37.0 %