A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Last Year $ 5,593,600 3,515,500 2,078,100 McKenzie Sales, Limited Comparative Income Statement This Year Sales $ 7,360,000 Cost of goods sold 4.650,000 Gross margin 2.710,000 Selling and administrative expenses: Selling expenses 1,390,000 Administrative expenses 205,500 Total expenses 2,095,500 Net operating income 614,500 Interest expense 97,000 Net Income before taxes $ 517,500 1,075,500 616,000 1,691,500 386,600 92,000 $ 294,600 Members of the company's board of directors are surprised to see that net income increased by only $222,900 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 Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest compense Net Income before taxes % % % % % % *** %