A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: Sales Cost of goods sold Gross margin McKenzie Sales, Limited Comparative Income Statement This Year Last Year $ 7,350,000 $ 5,586,000 4,680,000 3,516,000 2,670,000 2,070,000 Selling and administrative expenses: Selling expenses 1,398,000 1,077,500 Administrative expenses 702,000 617,500 Total expenses 2,100,000 1,695,000 Net operating income Interest expense 570,000 105,000 375,000 Net income before taxes $ 465,000 93,000 $ 282,000 Members of the company's board of directors are surprised to see that net income increased by only $183,000 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).) 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 %