A comparative income statement is given below for McKenzie Sales, Ltd. of Toronto Last Year $5,570,300 3,513,500 2,057,300 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,330,000 cost of goods sold 4.710,000 Gross margin 2,620,000 Selling and administrative expenses: Selling expenses 1,381,000 Administrative expenses 204,500 Total expenses 2,085,500 Net operating income 534,500 Interest expense 102,000 Net Income before taxes $432,500 1,075,500 613.500 1,689,000 368,300 89,000 $ 279,300 Members of the company's board of directors are surprised to see that net income increased by only $153,200 when sales increased by $1,759 200 Required: 1 Express each year's income statement in common size percentages. (Round your percentage answers to 1 decimal place (ie. 0.1234 should be entered os 12.3)) This Year List Year Sales Cost of goods sold Che Total expenses Net operating income Interest expense Net Income before taxes 2,685.5ce 534,500 102,000 5 432,500 1,689,000 368,30 89.000 $ 279,300 Members of the company's board of directors are surprised to see that net income increased by only $153,200 when sales increased by $1759 200 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (ie.. 0.1234 should be entered as 12.3).) This Year Last Year % % % Sales Cost of goods sold Gross margin Selling and administrative expenses Song expenses Administrative expenses Total selling and administrative expenses Not operating income Interest expense Net income before taxes % % % %