A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,570,800 3,510,500 2,060,300 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,330,000 Cost of goods sold 4,740,000 Gross margin 2,590,000 Selling and administrative expenses: Selling expenses 1,389,000 Administrative expenses 703,500 Total expenses 2,092,500 Net operating income 497,500 Interest expense 101,000 Net income before taxes $ 396,500 1,076,500 609,500 1,686,000 374,300 88,000 $ 286,300 Members of the company's board of directors are surprised to see that net income increased by only $110,200 when sales increased by $1,759,200. 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 % % % % % % % % %