A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement Sales Cost of goods sold This Year Last Year $7,340,000 $5,578,400 4,690,000 3,506,000 Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense 2,650,000 2,072,400 1,371,000 1.082.000 705,000 616,000 2,076,000 1,698,000 574,000 \374,400\ 102,000 86,000 Net income before taxes $472,000 $\288,400\ Members of the company's board of directors are surprised to see that net income increased by only $183,600 when sales increased by $1,761,600. 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).) Sales Cost of goods sold Gross margin This Year Last Year % % % % 0.0 % 0.0 % Selling expenses Selling and administrative expenses: Administrative expenses % % % % Total selling and administrative expenses 0.0 % 0.0 % Net operating income 0.0 % 0.0 % Interest expense % % Net income before taxes 0.0 % 0.0 %