A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,608,800 3,509,500 2,099,300 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,380,000 Cost of goods sold 4,750,000 Gross margin 2,630,000 Selling and administrative expenses : Selling expenses 1,378,000 Administrative expenses 710,500 Total expenses 2,088,500 Net operating income 541,500 Interest expense 106,000 Net income before taxes $ 435,500 1,080,500 617,000 1,697,500 401,800 92,000 $ 309,800 Members of the company's board of directors are surprised to see that net income increased by only $125,700 when sales increased by $1,771,200. 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 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