A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,555,600 3,514,000 2,041,600 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,310,000 Cost of goods sold 4,780,000 Gross margin 2,530,000 Selling and administrative expenses Selling expenses 1,371,000 Administrative expenses 706,000 Total expenses 2,077,000 Net operating income 453,000 Interest expense 106,000 Net income before taxes $ 347,000 1,072,000 616,000 1,688,000 353,600 87,000 $ 266,600 Members of the company's board of directors are surprised to see that net income increased by only $80,400 when sales increased by $1,754,400 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage artswers to 1 decimal place (li.., 0.1234 should be entered as 12.3).) Last Year This Year % % 0.0 % 0.0 % Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expensos Administrative expenses Total selling and administrative expenses Net operating income Interest expense Not Income before taxes % % 0.01% 0.01% % 0.0% % % 0.01% 0.01% % 0.0 %