A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,578,400 3,508,000 2,070,400 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $ 7,340,000 Cost of goods sold 4,700,000 Gross margin 2,640,000 Selling and administrative expenses: Selling expenses 1,396,000 Administrative expenses 705,500 Total expenses 2,101,500 Net operating income 538,500 Interest expense 101,000 Net income before taxes $ 437,500 1,079,000 611,000 1,690,000 380,400 87,000 293,400 $ Members of the company's board of directors are surprised to see that net income increased by only $144,100 when sales increased by $1,761,600. 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 % 0.0% 0.0% % % Sales Cost of goods sold Gross margin Selling and administrative expenses: Seling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % 0.0 % 0.0 % 0.0 % 0.0 % % % 0.0% 0.0%