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 soldi Gross margin $ 7,320,000 4,780,000 2,540,000 Last Year $ 5,563,200 3,510,500 2,052,700 Selling and administrative expenses: Selling expenses Total expenses Net operating income Interest expense Administrative expenses 1,377,000 705,000 1,078,500 614,000 2,082,000 1,692,500 Net income before taxes 458,000 98,000 $360,000 360,200 84,000 $276,200 Members of the company's board of directors are surprised to see that net income increased by only $83,800 when sales increased by $1,756,800 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 % 00 % Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % % 0.0 % 0.0 % 0.0 % 0.0 % % 96 00% 00%