A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $ 7,380,000 Last Year $5,608,800 Cost of goods sold Gross margin 4,730,000 2,650,000 3,511,000 Selling and administrative expenses: Selling expenses Total expenses Net operating income Administrative expenses 2,097,800 1,394,000 1,079,500 703,500 614,000 2,097,500 1,693,500 552,500 97,000 $455,500 404,300 Interest expense Net income before taxes 86,000 $ 318,300 Members of the company's board of directors are surprised to see that net income increased by only $137,200 when sales increased by $1,771,200. 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal 0.1234 should be entered as 12.3).) This Year Last Year Sales % % Cost of goods sold % % Gross margin 0.0 % 0.0 % Selling and administrative expenses: Selling 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 %