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: Selling expenses Administrative expenses Total expenses Net operating income Interest expense Net income before taxes This Year $ 7,300,000 4,650,000 2,650,000 Last Year $ 5,548,000 3,515,000 2,033,000 1,399,000 1,080,000 703,000 617,500 2,102,000 1,697,500 548,000 101,000 335,500 88,000 $ 447,000 $ 247,500 Members of the company's board of directors are surprised to see that net income increased by only $199,500 when sales increased by $1,752,000. 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).) Sales Cost of goods sold This Year Last Year % % % % % % Gross margin Selling and administrative expenses: Selling expenses % Administrative expenses % xx % % Total selling and administrative expenses % % Net operating income % % Interest expense % % Net income before taxes % %