A comparative Income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,616,400 3,514,000 2,102,400 McKenzie Sales Ltd Comparative Income statement This Year Sales $7,390,000 Cost of goods sold 4,760, 800 Gross margin 2,630,000 Selling and administrative expenses: Selling expenses 1,380,000 Administrative expenses 703,500 Total expenses 2,083,500 Net operating income 546,500 Interest expense 102,000 Net Income before taxes $444,500 1,077,290 616,000 1,693,000 409,400 87,000 $ 322,400 Members of the company's board of directors are surprised to see that net Income increased by only $122100 when sales increased by $1773.600. Required: 1. Express each year's Income statement in common-size percentages. (Round your percentage answers to 1 decimal place (ie., 0.1224 should be entered as 123).) 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 the % % elelse % %