A comparative income statement is given below for McKenzie Sales, Ltd. of Toronto: Last Year $5,555,600 3,514,500 2,041, 100 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,310,000 Cost of goods sold 4,680,000 Gross margin 2.630,000 Selling and administrative expenses Selling expenses 1,387,000 Administrative expenses 708,500 Total expenses 2,095,500 Net operating income 534,500 Interest expense 101,000 Net Income before taxes 433,500 1,081,000 609,000 1,690,000 351, 100 90,000 $ 261,100 Members of the company's board of directors are surprised to see that net income increased by only $172,400 when sales increased by $1,754,400 $7,310,000 4,680,000 2,630,000 $5,555,600 3,514,500 2,041,100 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 1,387,000 708,500 2.095,500 534,500 101,000 $ 433,500 1,081,000 609,000 1,690,000 351, 100 90,000 $ 261,100 Members of the company's board of directors are surprised to see that net income increased by only $172,400 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).) Last Year This Year % % 0.0% 0.0 % % Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes 0.0 % 0.0 % % 0.01% % % 0.01% 0.01% % 0.0 %