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 Selling and administrative expenses: Administrative expenses Selling expenses Total expenses Net operating income Interest expense Net income before taxes This Year $ 7,320,000 4,700,000 2,620,000 Last Year $ 5,563,200 3,510,500 2,052,700 1,695,000 1,385,000 1,081,000 707,000 614,000 2,092,000 528,000 97,000 $ 431,000 357,700 93,000 $ 264,700 Members of the company's board of directors are surprised to see that net income increased by only $166,300 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 (i.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 % % Net operating income % % Interest expense % % Net income before taxes %