A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,570, 800 3,515,000 2,055,800 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,330,000 Cost of goods sold 4,640,000 Gross margin 2,690,000 Selling and administrative expenses: Selling expenses 1,390,000 Administrative expenses 711,500 Total expenses 2,101,500 Net operating income 588,500 Interest expense 101,000 Net income before taxes $ 487,500 1,073,000 613,500 1,686,500 369,300 90,000 279,300 Members of the company's board of directors are surprised to see that net income increased by only $208,200 when sales increased by $1,759,200. 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 %