A comparative income statement is given below for Mckenzie Sales, Ltd., of Toronto: Last Year $5,593,600 3,506,000 2,087,600 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,360,000 Cost of goods sold 4,630,000 Gross margin 2,730,000 Selling and administrative expenses: Selling expenses 1,373,000 Administrative expenses 709,500 Total expenses 2,082,500 Net operating income 647,500 Interest expense 103,000 Net income before taxes $ 544,500 1,074,000 612,000 1,686,000 401,600 85,000 $ 316,600 Members of the company's board of directors are surprised to see that net income increased by only $227,900 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 (i.e., 0.1234 should be entered as 12.3).) This Year Last Year Sales % % % % 0.0 % 0.0 % % % 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 % % 0.0 % 0.0 % 0.0 % 0.0 % % % 0.0 % 0.0 %