A comparative income statement is given below for Mckenzie Sales, Ltd., of Toronto: Last Year $5,670,800 3,507,000 2,063,800 Mckenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,330,000 Cost of goods sold 4,640,000 Gross margin 2,690,000 Selling and administrative expenses: Selling expenses 1,392,000 Administrative expenses 709,000 Total expenses 2,101,000 Net operating income 589,000 Interest expense 100,000 Net income before taxes $ 489,000 1,079,000 608,500 1,687,500 376,300 86.000 $ 290,300 Members of the company's board of directors are surprised to see that net income increased by only $198,700 when sales increased by $1,759,200. 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 0.0 % 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 0.0 % 0.0 % 0.0% 0.0 0.0 % 0.0 %