A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Sales Cost of goods soldi Gross margin McKenzie Sales, Limited Comparative Income Statement This Year $ 7,340,000 4,650,000 2,690,000 1,392,000 Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 706,500 2,098,500 591,500 106,000 $ 485,500 Last Year $ 5,578,400 3,511,000 2,067,400 1,077,500 615,000 1,692,500 374,900 93,000 $ 281,900 Members of the company's board of directors are surprised to see that net income increased by only $203,600 when sales increased by $1,761,600. 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 %