Check my work 2 A comparative Income statement is given below for McKenzie Sales, Limited, of Toronto: LE YOR $5.578.400 3,512.000 21.066400 004 Ent ant Meena Salita Comparative Income statement Shin Year Sales $17.349,000 Cont of goods mold 4.760,000 Gross margin 2,580.000 Selling and administrative expenses Selling expenses 1,400,000 Administrative expenses 704,500 Total expenses E11060 Net operating income 473,500 Interest expense 105,000 Net Income before taxes 368,500 1.076,500 617.000 93,500 $72.900 8600 3 286.900 ances Members of the company's board of directors are surprised to see that net income increased by only $81,6op when sales increased by $1,761,600. Required: 1. Express each year's income statement in common size percentages. (Round your percentage answers to 1 decimal place flue 0.1234 should be entered as 12.3).) Last Year This Year 36 96 Sales Cost of goods sold Gross margin Help Save a Sun 2 Check my w Members of the company's board of directors are surprised to see that net income increased by only $81.600 when sales increased by $1761600 Required: 1 Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place. 0.1234 should be entered as 12.3). The Year Laut You Bas Cost of goods sold Grossmarin Being and administrative expenses Selling en Administrative expenses Total saling and administratives Nel operating income Interest expense Netcome before we 10 5