A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,601,200 3,507,000 2,094,200 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,370,000 Cost of goods sold 4,770,000 Gross margin 2,600,000 Selling and administrative expenses: Selling expenses 1,370,000 Administrative expenses 707,000 Total expenses 2,077,000 Net operating income 523,800 Interest expense 100,000 Net income before taxes $ 423,000 1,077,000 613,000 1,690,000 404,200 90,000 $ 314,200 Members of the company's board of directors are surprised to see that net income increased by only $108,800 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).) Last Year % This 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 %