A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,608,800 3,506,500 2,102,300 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $ 7,380,000 Cost of goods sold 4,670,000 Gross margin 2,710,000 Selling and administrative expenses: Selling expenses 1,383,000 Administrative expenses 711,000 Total expenses 2,094,000 Net operating income 616,000 Interest expense 100,000 Net income before taxes $ 516,000 1,076,500 608,000 1,684,500 417,800 93,000 $ 324,800 Members of the company's board of directors are surprised to see that net income increased by only $191,200 when sales increased by $1,771,200. 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 Total selling and administrative expenses Net operating income Interest expense Net income before taxes % % % % % % % % % % % %