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 Cost of goods sold 4,600,000 3,506,500 Gross margin 2,750,000 2,079,500 Selling and administrative expenses: Selling expenses 1,376,000 1,082,000 Administrative expenses 710,000 611,000 Total expenses Net operating incone Interest expense Net income before taxes 2,086,000 1,693,000 664,000 97,000 386,500 88,000 $ 567,000 $ 298,500 Members of the company's board of directors are surprised to see that net income increased by only $268,500 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 (i.e... 0.1234 should be entered as 12.3).) 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 Sales Cost of goods sold % % % % Gross margin 0.0% 0.0 % Selling and administrative expenses Selling expenses % % Administrative expenses % % Total solling and administrative expenses 0.0 % 0.0 % Net operating income 00 % 0.0 % Interest expense % % Net income before taxes 0.0 % 0.0 %