A comparative Income statement is given below for Mckenzie Sales, Ltd., of Toronto Last Year $5,570,see 3,513,000 2.057.0 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,330, eee Cost of goods sold 4,680,000 Gross margin 2,650,00 Selling and administrative expenses Selling expenses 1,397,600 Administrative expenses 706,5ee Total expenses 2,103, See Net operating income 546, see Interest expense 99,800 Net income before taxes $ 447,500 1,076,880 615,09 1,691,609 366,889 89,000 $ 277,800 Members of the company's board of directors are surprised to see that net income increased by only $169,700 when sales increased by $1,759,200 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (.e., 0.1234 should be entered as 12.3).) This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses Seling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes