A comparative Income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $7,310,000 $5,555,600 Cost of goods sold 4,620,880 3,588,500 Gross margin 2,690,000 2,047, 100 Selling and administrative expenses: Selling expenses 1,398,888 1,878,500 Administrative expenses 708,000 612,800 Total expenses 2,106,880 1,690,500 Net operating income 584,000 356,600 Interest expense 106,080 91,000 Net income before taxes $ 478,000 $ 265,600 Members of the company's board of directors are surprised to see that net incolne increased by only $212,400 when sales increas by $1,754,400 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal piace lle. 0.1234 should be entered as 12.3).) This Year 100.0% Last Year 100.01% % 100.0 % 100.0 % % % Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses Total telling and administrative expenses Net operating income Interest expense Net Income before taxes * 0.01% 0.01 100.0 100.01% % 100.0 % 1000