A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,548,000 3,513,000 2,035,000 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,300,000 Cost of goods sold 4,650,000 Gross margin 2,650,000 Selling and administrative expenses: Selling expenses 1,393,000 Administrative expenses 707,000 Total expenses 2,100,000 Net operating income 550,000 Interest expense 97,000 Net income before taxes $ 453,000 1,080,000 617,500 1,697,500 337,500 91,000 $ 246,500 Members of the company's board of directors are surprised to see that net income increased by only $206,500 when sales increased by $1,752,000. 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 % % % % % % % % Not income hefnra tavae 0/ %