A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto McKenzie Sales, Ltd Comparative Income Statement This Year Sales Cost of goods sold Gross margin Selling and administrative expenses: Last Year $7,370,000 $5,601,200 4,640,000 3,511,500 2,089,700 2,730,000 Selling expenses 1,395,000 704,500 1,076,500 615,000 Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 2,099,50691,.5 398, 200 101,000 91,000 529,500 307,200 630,500 Members of the company's board of directors are surprised to see that net income increased by only $222,300 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