A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ 7,300,000 $ 5,548,000 Cost of goods sold 4,790,000 3,509,000 Gross margin 2,510,000 2,039,000 Selling and administrative expenses: Selling expenses 1,383,000 1,076,500 Administrative expenses 707,500 614,500 Total expenses 2,090,500 1,691,000 Net operating income 419,500 348,000 Interest expense 96,000 94,000 Net income before taxes $ 323,500 $ 254,000 Members of the companys board of directors are surprised to see that net income increased by only $69,500 when sales increased by $1,752,000. Required: 1. Express each year's income statement in common-size percentages