A comparative income statement is given below for McKenzie Sales, Ltd. of Toronto: Last Year $5,593,600 3,512,500 2.081, 100 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,360,000 Cost of goods sold 4,630,000 Gross margin 2,230,000 Selling and administrative expenses: Selling expenses 1,380,000 Administrative expenses 709,000 Total expenses 2,089,000 Net operating income 641,000 Interest expense 101.000 Net income before taxes $540,000 1,078,500 617.000 1,695,500 385,600 89,000 $ 296,600 Members of the company's board of directors are surprised to see that net income increased by only $243,400 when sales increased by $1,766,400 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (le, 0.1234 should be entered as 12.3).) Last Year This Year % % 0.01% 0.01% % 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 % 0.01% 0.01% % 0.01% % % 0.01% 0.0 % % 0.01%