A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $ 7,350,000 4,610,000 2,740,000 Last Year $ 5,586,000 3,515,000 2,071,000 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses 1,380,000 1,081,000 Administrative expenses 710,000 610,000 Total expenses 2,090,000 Net operating income 650,000 104,000 1,691,000 380,000 93,000 Interest expense Net income before taxes $546,000 $ 287,000 Members of the company's board of directors are surprised to see that net income increased by only $259,000 when sales increased by $1,764,000. 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 % % 0.0 % % % 0.0 % 0.0 % % 0.0 % % % 0.0 % % % 0.0 % 0.0 % % 0.0 %