A comparative income statement is given below for McKenzie Sales, Limited, of Toronto: McKenzie Sales, Limited Comparative Income Statement Sales Cost of goods sold Gross margin This Year $ 7,300,000 4,640,000 2,660,000 Last Year $ 5,548,000 3,513,500 2,034,500 Selling and administrative expenses: 1,391,000 1,081,000 Administrative expenses 702,500 608,000 Selling expenses Total expenses Net operating income Interest expense Net income before taxes 2,093,500 566,500 106,000 $ 460,500 1,689,000 345,500 89,000 $ 256,500 Members of the company's board of directors are surprised to see that net income increased by only $204,000 when sales increased by $1,752,000. 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).) Sales Cost of goods sold Gross margin Selling and administrative expenses: This Year Last Year dididi % % % % % % % % Selling expenses Administrative expenses % % Total selling and administrative expenses % % Net operating income % % Interest expense % % Net income before taxes % %