please explain step by step with formulas

A comparative income statement is given below for McKenzle Sales, Limited, of Toronto: Members of the company's board of directors are surprised to see that net income increased by only $266,000 when sales increase by $1,776,000 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 os 12.3).) Members of the company's board of directors are surprised to see that net income increased by only $266,000 when sales increased 51776,000 Required: 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 os 12.3).) Members of the company's board of directors are surprised to see that net income increased by only $266,000 when sales increased by $1,776,000 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place li.e., 0.1234 should be entered as 12.3).)