A comparative income statement is given below for Mckenzie Sales, Ltd., of Toronto: Last Year $5,601,200 3,514,500 2,086,700 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $ 7,370,000 Cost of goods sold 4,700,000 Gross margin 2,670,000 Selling and administrative expenses : Selling expenses 1,393,000 Administrative expenses 702,500 Total expenses 2,095,500 Net operating income 574,500 Interest expense 102,000 Net income before taxes $ 472,500 1,077,500 614,000 1,691,500 395, 200 84,000 311,200 $ Members of the company's board of directors are surprised to see that net income increased by only $161,300 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