A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales This Year $ 7,320,000 Last Year $5,563,200 Cost of goods sold Gross margin Selling and administrative expenses: 4,720,000 3,511,000 2,600,000 2,052,200 1,376,000 1,075,500 709,500 614,000 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes: 2,085,500 1,689,500 362,700 91,000 514,500 104,000 $ 410,500 $ 271,700 Members of the company's board of directors are surprised to see that net income increased by only $138,800 when sales increased by $1,756,800. 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 0.0 % 0.0 % Selling and administrative expenses: Selling expenses % % Administrative expenses % % Total selling and administrative expenses 0.0 % 0.0 % Net operating income 0.0 % 0.0 % Interest expense % % Net income before taxes 0.0 % 0.0 %