Ch 14 Graded Homework Exercise 14-1 Common-Size Income Statement [LO14-1 4.28 A comparative Income statement is given below for McKenzie Sales, Ltd, of Toronto: Comparative 57.316.000 $$.01,200 Coat of goods sold Belling and edninistrative expensesi total ting 383,000 1.078,500 -T50, Members of the company's board of directors are surprised to see that net income increased by only $250.300 when sales increased by $1,768,800 erencesRequired: 1. Express each years income statement in common-size percentages. (Round your percentage answers to 1 decimal place i.e. 01234 should be entered as 12.3 of goods sold Gross margin 0.01% 0.01%, Net income before taxns