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 sold Gross margin $ 7,310,000 4,630,000 2,680,000 Last Year $ 5,555,600 3,515,000 2,040,600 Selling and administrative expenses: 1,374,000 1,079,500 704,000 614,500 2,078,000 602,000 101,000 $ 501,000 1,694,000 346,600 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 93,000 $ 253,600 Members of the company's board of directors are surprised to see that net income increased by only $247,400 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 (i.e., 0.1234 should be entered as 12.3).) Sales Cost of goods sold This Year Last Year % % % % % % Gross margin Selling and administrative expenses: Selling expenses % Administrative expenses % Total selling and administrative expenses % % Net operating income % % Interest expense % % Net income before taxes % %