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 Cost of goods sold Gross margin 4,750,000 2,610,000 Selling and administrative expenses: Last Year $ 5,593,600 3,508,000 2,085,600 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 1,377,000 1,073,000 706,000 615,500 2,083,000 1,688,500 397,100 527,000 102,000 $ 425,000 94,000 $ 303,100 Members of the company's board of directors are surprised to see that net income increased by only $121,900 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 %