A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: This Year Last Year $7,400,000 $5,624,000 4,790,000 3,506, 500 2,619,000 2,117,500 Selling expense:s 1,374,000 1,075,000 614, 500 Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 707,000 -5106,01,689,500 428,000 87,000 $ 433,000 341,000 529,000 96,000 Members of the company's board of directors are surprised to see that net income increased by only $92,000 when sales increased by $1,776,000 Requirec 1-Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (1.e., 0.1234 should be entered as 12.3).) Members of the company's board of directors are surprised to see that net income increased by only $92,000 when sales increased by $1,776,000. Required 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 declmal place (l.e., 0.1234 should be entered as 12.3).) This YearLast e Sales Cost of goods sold Gross margin Selling and administrative expenses: 0.01% 0.01% Selling expenses 0.01% 0.01% 0.01% 0.01% Total selling and administrative expenses Net operating income Interest expense Net income before taxes 0.01% 0.01%