A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,601,200 3,508,500 2,092,700 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,370,000 Cost of goods sold 4,750,000 Gross margin 2,620,000 Selling and administrative expenses: Selling expenses 1,390,000 Administrative expenses 712,000 Total expenses 2,102,000 Net operating income 518,000 Interest expense 99,000 Net income before taxes $ 419,000 1,072,500 608,500 1,681,000 411,700 88,000 $ 323,700 Members of the company's board of directors are surprised to see that net income increased by only $95,300 when sales increased by $1,768,800. 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 expense % % Net income before taxes %