A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd Comparative Income Statement This Year Last Year 4,670,000 3,512,000 2,650,000 2,051,200 Sales 57,320,000 55,563,200 Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Total expenses Net operating income 1,390,000 079,000 10,500 2,097,000 1689,500 553,000 361,700 707,000 Interest expense 04,000 88,000 Net income before taxes S 449,000 S 275,700 Members of the company's board of directors are surprised to see that net income increased by only 173,300 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 (ie., 0.1234 should be entered as 12.3).) Sales Cost of goods sold Gross margin Seing and administrative expenses 0.01 % 0.01 % Seling expenses Total selling and administrative expenses Net operating income Interes: expense Net income before taxes 0.01 % 0.01 % 0.01 % 0.01 % 0.01 % 0.01 %