A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales Cost of goods sold Gross margin This Year $ 7,320,000 4,710,000 2,610,000 Last Year $ 5,563,200 3,515,000 2,048,200 Selling and administrative expenses: 1,373,000 1,080,500 710,500 615,000 2,083,500 1,695,500 526,500 105,000 352,700 93,000 $ 421,500 $ 259,700 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes Members of the company's board of directors are surprised to see that net income increased by only $161,800 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 (l.e... 0.1234 should be entered as 12.3).) Sales Cost of goods sold This Year Last Year % % % % % % Gross margin Selling and administrative expenses Selling expenses % % Administrative expenses % % Total selling and administrative expenses % % Nel operating income % % Interest expense % Net income before taxes %