A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement This Year Sales Cost of goods sold Gross margin $ 7,390,000 4,700,000 2,690,000 Last Year $ 5,616,400 3,514,000 2,102,400 Selling and administrative expenses: 1,376,000 1,077,500 709,000 610,500 2,085,000 1,688,000 605,000 97,000 $508,000 414,400 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 89,000 $ 325,400 Members of the company's board of directors are surprised to see that net income increased by only $182,600 when sales increased by $1,773,600. 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).) 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 % Check my by $1,773,600. Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal pla 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 %