to education.com A comparative income statement is given below for McKenzie Sales, Ld. of Toronto McKenzie Sales, Lid Comparative Income Statement This Year Last Year $7,360,000 $5,593.600 4.690.000 3,513,500 Sales Cost of goods sold 2,670,000 2.080,100 Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total expenses 1,394,000 711,000 1.076,500 612,000 2,105,000 1.688.500 Net operating income Interest expense Net Income before awes 565.000 103,000 391 500 84.000 $ 462.000 $ 307,600 Members of the company's board of directors are surprised to see that not income increased by only $154,400 when sales increased by 51.766.400 Required: 1. Express cach year's income statement in common se percentages (Round your percentage answers to 1 decimal place fie 0.1234 should be entered as 12:33) This Year Last Year Sales % 0.01 00% % 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% 0.01% % 00% 0.01