A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,563,200 3,510,000 2,053,200 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,320,000 Cost of goods sold 4,630,000 Gross margin 2,690,000 Selling and administrative expenses : Selling expenses 1,379,000 Administrative expenses 707,500 Total expenses 2,086,500 Net operating income 603,500 Interest expense 99,000 Net income before taxes $ 504,500 1,075,500 611,500 1,687,000 366,200 93,000 $ 273,200 Members of the company's board of directors are surprised to see that net income increased by only $231,300 when sales increased by $1,756,800. es 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 % % 0.0 % Last Year % % 0.0 % 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 % % % 0.01% 0.0% % 0.0 % % 0.0 % 0.0 % 0.0 %