A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd Comparative Income Statement This Year $7,320,000 4,650,000 Last Year $5,563 200 3,515,000 Sales Cost of goods sold Gross margin 2,670,000 2,048,200 Selling and administrative expenses Selling expenses Administrative expenses 1.396,000 707.500 1,074,500 614,500 Total expenses 2.103,500 1,689,000 Net operating income Interest expense 566.500 100,000 359,200 85,000 Net income before taxes 466,500 $274,200 Members of the company's board of directors are surprised to see that net income increased by only $192.300 when sales increased by $1 756,800 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).) 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 100.0 % 100.0 % % Cost of goods sold Gross margin Selling and administrative expenses: 100.0 % 100.0% Selling expenses % Administrative expenses % Total selling and administrative expenses Net operating income Interest expense Net income before taxes 0.0 % 100.0% 0.0 % 100 0% % 100.0 % 100.0 %