comparative income statement is given below for Mekenzie Sales, Ltd., of Toronto: Mckenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,380,000 Cost of goods sold 4.690,000 Gross margin 2.690,000 Selling and administrative expenses: Selling expenses 1,365,000 Administrative expenses 703,000 Total expenses 2,093,000 Net operating income 597,000 Interest expense 101.000 Net Income before taxes $ 496,000 Last Year $5,608,800 3.509,000 2,099,800 1,077,500 614,000 1.691, 500 403,300 92,000 5316,300 Members of the company's board of directors are surprised to see that net income increased by only $179.700 when sales increased by $1771.200 Required: 1 Express each year's income statement in common size percentages (Round your percentage answers to 1 decimal place fie.. 01234 should be entered as 12.3). This Year Last Year Sale Cost of goods sold Members of the company's board of directors are surprised to see that net income increased by only $179,700 when sales increase by $1771,200 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 Totalling and administrative expenses Not operating income Interest expense Net income before %