A comparative income statement is given below for McKenzie Sales, Ltd, of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,350,000 Last Year $5,586,000 Cast of goods sold 4,610,000 3,500,000 Gross margin 2,740,000 3,077,000 Selling and administrative expenses: Selling expenses Administrative expenses 1,399,000 700,000 1,078,500 612,500 Total expenses 2,105,000 1,601,000 Net operating Income Interest expense 635,000 100,000 356,000 94,000 $ 535,000 $292,000 Net Income before taxes Members of the company's board of directors are surprised to see that net income increased by only $243,000 when sales increased by $1,764,000. Required: 1 Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (... 0.1234 should be entered as 12.3).) re to search Sales Cost of goods sold This Year Last Year Figy Et Next > Check my wor 53 a 67F ENT