A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,601,200 3,513,500 2,087,700 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,370,000 Cost of goods sold 4,730,000 Gross margin 2,640,000 Selling and administrative expenses : Selling expenses 1,371,000 Administrative expenses 706,000 Total expenses 2,077,000 Net operating income 563,000 Interest expense 103,000 Net income before taxes $ 460,000 1,074,000 609,000 1,683,000 404,700 89,000 315,700 Members of the company's board of directors are surprised to see that net income increased by only $144,300 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 % % % % 0.0 % 0.0 % % 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 % % % 0.0 % 0.0 % 0.0 % 0.0 % % % 0.0 % 0.0 %