A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,616,400 3,515,500 2,100,900 Mckenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,390,000 Cost of goods sold 4,750,000 Gross margin 2,640,000 Selling and administrative expenses Selling expenses 1.400,000 Administrative expenses 705.000 Total expenses 2,105,000 Net operating income 535,000 Interest expenso 97,000 Net income before taxes $ 438,000 1,074,500 612.000 1,686,500 414,400 89,000 $ 325,400 Members of the company's board of directors are surprised to see that net income increased by only $112,600 when sales increased by $1773,600 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (i.c.. 0.1234 should be entered as 12.3).) Last Year This Year % % % ** Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % % % % RE % % %