A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,578,400 3,508,500 2,069,900 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $ 7,340,000 Cost of goods sold 4,640,000 Gross margin 2,700,000 Selling and administrative expenses: Selling expenses 1,392,000 Administrative expenses 709,000 Total expenses 2,101,000 Net operating income 599,000 Interest expense 103,000 Net income before taxes $ 496,000 1,082,000 608,000 1,690,000 379,900 93,000 $ 286,900 Members of the company's board of directors are surprised to see that net income increased by only $209,100 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).) 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 % % % % % % % % % %