A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $ 7,310,000 Cost of goods sold Gross margin 4,590,000 2,720,000 Last Year $ 5,555,600 3,510,500 2,045,100 Selling and administrative expenses: Selling expenses Total expenses Net operating income 1,386,000 1,076,000 Administrative expenses 706,000 610,000 2,092,000 1,686,000 359,100 Interest expense Net income before taxes 628,000 103,000 $ 525,000 85,000 $ 274,100 Members of the company's board of directors are surprised to see that net income increased by only $250,900 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 (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 % Net operating income 0.0 % Interest expense ** % % % % 0.0 % 0.0 % % % Net income before taxes 0.0 % 0.0 %