A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year $7,370,000 4,650 2,720,000 $5,601,200 Sales 3,514,000 2,087,200 Cost of goods sold Gross margin Se. Selli Adminigtpehses g and administrative expenses: 1,076,000 618,000 1,372,000 710,500 2,082,500 637,500 97,000 Total expen expenses 1,694,000 Net operating income Interest expense 393,200 87,000 $ 306,200 540,500 Net income before taxes Members of the company's board of directors are surprised to see that net income increased by only $234,300 when sales increased by $1,768,80O. 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 0.0% 0.0 % Selling and administrative expenses % Selling expenses Administrative expenses % % Total selling and administrative expenses Net operating income Interest expense Net income before taxes 0.0 % 0.0 % 0.0 % 0.0 % % % 0.0 % 0.0 %