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A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $7,370,000 4,600,000 Last Year $ 5,601,200 3,515,000 2,086,200 Cost of goods sold Gross margin 2,770,000 Selling and administrative expenses: Selling expenses 1,387,000 1,072,500 Administrative expenses 707,500 617,000 Total expenses 2,094,500 1,689,500 Net operating income. 675,500 101,000 396,700 89,000 Interest expense Net income before taxes $ 574,500 $ 307,700 Members of the company's board of directors are surprised to see that net income increased by only $266,800 when sales increased by $1,768,800. 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 Total selling and administrative expenses Net operating income Interest expense Net income before taxes 0.0 % % % 0.0 % 0.0 % % 0.0 % % 0.0 % % % 0.0 % 0.0 % % 0.0%