A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Sales McKenzie Sales, Limited Comparative Income Statement Cost of goods sold Gross margin Selling and administrative expenses: This Year $ 7,330,000 4,690,000 2,640,000 Last Year $ 5,570,800 3,514,000 2,056,800 1,383,000 1,079,500 702,000 608,000 2,085,000 1,687,500 555,000. 369,300 101,000 86,000 $ 454,000 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes $283,300 Members of the company's board of directors are surprised to see that net income increased by only $170,700 when sales increased by $1,759,200. 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).) Selling expenses Sales Cost of goods sold Gross margin Selling and administrative expenses: Administrative expenses This Year Last Year % % % % % % % % % Total selling and administrative expenses % % Net operating income % % Next