comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement This Year Sales $7,380,000 Last Year $5,608,800 Cost of goods sold 4,740,000 3,515,500 Gross margin 2,640,000 2,093,300 Selling and administrative expenses: 1,381,000 1,074,500 Administrative expenses 711,500 609,000 2,092,500 1,683,500 547,500 409,800 102,000 94,000 $445,500 Selling expenses Total expenses Net operating income Interest expense Net income before taxes $315,800 Members of the company's board of directors are surprised to see that net income increased by only $129,700 when sales increased by $1,771,200. 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).) 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 This Year Last Year % % % % % % % % % % 9