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: This Year $ 7,370,000 4,770,000 2,600,000 Last Year $ 5,601,200 3,510,500 2,090,700 1,383,000 1,080,500 709,000 615,000 Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes 2,092,000 508,000 101,000 $ 407,000 1,695,500 395,200 84,000 $ 311,200 Members of the company's board of directors are surprised to see that net income increased by only $95,800 when sales increased by $1,768,800. 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 % %