Question: A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: The company's board of directors is surprised to see net income increased

A comparative income statement is given below for McKenzie Sales, Limited,

A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: The company's board of directors is surprised to see net income increased by only $145,400 when sales increased by $1,766,400. Required: 1. Express each year's income statement in common-size percentages. Note: Round your percentage answers to 1 decimal place (i.e., 0.1234 should be entered as 12.3)

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