A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $7,310,800 $5,555,600 Cost of goods sold 4,650,000 3,514 500 Gross margin 2,660,000 2,041, 100 Selling and administrative expenses : Selling expenses 1,386,000 1,075,000 Administrative expenses 706,500 614,500 Total expenses 2,092,500 1,689,500 Net operating income 567,500 351,600 Interest expense 98,000 91,000 Net income before taxes $ 469,500 $ 260,600 Members of the company's board of directors are surprised to see that net income increased by only $208,900 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 (i.e.. 0.1234 should be entered as 12.3).) This Year Last Year % % % 0.0 % % 0.0% % Sales Cost of goods sold Gross margin Soling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % 0.0 % 0.01% % % 0.01% 0.01% % 0.0% % 0.01%