A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Mckenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ 7,360,000 $5,593,600 Cost of goods sold 4,720,000 3,510,500 Gross margin 2,640,000 2,083,100 Selling and administrative expenses: Selling expenses Administrative expenses 1,379,000 703,500 1,082,000 612,000 Total expenses 2,082,500 1,694,000 Net operating income Interest expense 557,500 98,000 1389,100 85,000 Net income before taxes $ 459,500 $ 1304,100 Members of the company's board of directors are surprised to see that net income increased by only $155,400 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).) 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 Net income before taxes e del