A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement This Year Last Year Sales $ 7,310,000 $ 5,555,600 Cost of goods sold 4.690,000 3.512,000 Gross margin 2,620,000 2,043,600 Selling and administrative expenses: Selling expenses 1,382,000 1,082,000 Administrative expenses 710,000 615,000 Total expenses 2,092.000 1,597.000 Net operating income 528,000 346,600 Interest expense 105,000 89,000 Net income before taxes $ 423,000 $ 257,600 Members of the company's board of directors are surprised to see that net income increased by only $165,400 when sales increased by $1,754,400 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (le. 0.1234 should be entered as 12.3).) This Year Last Year % Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses % % % %