A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement This Year Sales Cost of goods sold $ 7,340,000 4,730,000 Last Year $ 5,578,400 3,513,000 Gross margin Selling and administrative expenses: 2,610,000 2,065,400 1,393,000 1,078,500 704,500 617,000 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 2,097,500 512,500 104,000 $ 408,500 1,695,500 369,900 91,000 $ 278,900 Members of the company's board of directors are surprised to see that net income increased by only $129,600 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 % % % % % % Selling and administrative expenses Selling expenses % % Administrative expenses % % Total selling and administrative expenses % % Net operating income % % Interest expense Net income before taxes %