A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,563,200 3,507,000 2,056,200 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,320,000 Cost of goods sold 4,720,000 Gross margin 2,600,000 Selling and administrative expenses: Selling expenses 1,399,000 Administrative expenses 707,500 Total expenses 2,106,500 Net operating income 493,500 Interest expense 105,000 Net income before taxes $ 388,500 1,080,000 613,500 1,693,500 362,700 94,000 $ 268, 700 Members of the company's board of directors are surprised to see that net income increased by only $119,800 when sales increased by $1,756,800. 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 0.01% 0.0 % 0.0 0.0 % 0.0 %