A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,593,600 3,511,000 2,082,600 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $ 7,360,000 Cost of goods sold 4,780,000 Gross margin 2,580,000 Selling and administrative expenses : Selling expenses 1,392,000 Administrative expenses 702,000 Total expenses 2,094,000 Net operating income 486,000 Interest expense 97,000 Net income before taxes $ 389,000 1,076,500 609,000 1,685,500 397, 100 89,000 $ 308,100 Members of the company's board of directors are surprised to see that net income increased by only $80,900 when sales increased by $1,766,400. 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 Selling and administrative expenses: Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense Net income before taxes % % % % % % % % % %