A comparative income statement is given below for Mckenzie Sales, Ltd., of Toronto: Last Year $5,586,000 3,514,000 2,072,000 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,350,000 Cost of goods sold 4,690,000 Gross margin 2,660,000 Selling and administrative expenses: Selling expenses 1,377,000 Administrative expenses 705,500 Total expenses 2,082,500 Net operating income 577,500 Interest expense 100,000 Net income before taxes $ 477,500 1,078,000 609,500 1,687,500 384,500 84,000 $ 300,500 Members of the company's board of directors are surprised to see that net income increased by only $177,000 when sales increased by $1,764,000. 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 % %