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: Administrative expenses This Year $ 8,000,000 4,984,000 3,016,000 Last Year $ 6,000,000 3,516,000 2,484,000 1,480,000 1,092,000 712,000 618,000 2,192,000 1,710,000 824,000 96,000 774,000 84,000 $ 728,000 $ 690,000 Selling expenses Total expenses Net operating income Interest expense Net income before taxes Members of the company's board of directors are surprised to see that net income increased by only $38,000 when sales increased by $2,000,000. 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 % % 96 %6 Gross margin 0.0 % 0.0 % Selling and administrative expenses: Selling expenses 96 % Administrative expenses 96 % Total selling and administrative expenses 0.0 % 0.0 % Net operating income 0.0 % 0.0 % Interest expense 96 % Net income before taxes 0.0 % 0.0 %