A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,601, 200 3,506,500 2,094,700 Mckenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,370,000 Cost of goods sold 4,720,000 Gross margin 2,650,000 Selling and administrative expenses: Selling expenses 1,392,000 Administrative expenses 708,000 Total expenses 2,100,000 Net operating income 550,000 Interest expense 101,000 Net income before taxes $ 449,000 1,079,50 611,500 1,691,000 403,700 90,000 $ 313,700 Members of the company's board of directors are surprised to see that net income increased by only $135,300 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 % % 0.0 % 0.0 % 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 % 0.0 % % % 0.0 % 0.0% % 0.0 % 0.0 % % 0.0 %