A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $ 7,360,000 Last Year $5,593,600 Cost of goods sold Gross margin 4,760,000 2,600,000 3,511,500 Selling and administrative expenses: Selling expenses Total expenses Net operating income Administrative expenses: Interest expense Net income before taxes 2,082,100 1,384,000 1,081,500 706,000 614,500 2,090,000 1,696,000 510,000 99,000 386,100 91,000 $ 411,000 $ 295,100 Members of the company's board of directors are surprised to see that net income increased by only $115,900 when sales increased by $1,766,400. 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 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 %