A comparative Income statement is glven below for McKenzle Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement Last Year $5,570,800 3,511,500 2,059,300 This Year $7,330,000 4,600,000 2,730,000 Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses Administrative expenses 1,073,000 617,500 1,690,500 368,800 86,000 1,390,000 707,500 2,097,500 632,500 98,000 S 534,500 Total expenses Net operating income Interest expense 282,800 Net income before taxes Members of the company's board of directors are surprised to see that net income increased by only $251,700 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 declmal place (l.e., 0.1234 should be entered as 12.3).) This Year Last Year % % Sales % % Cost of goods sold % Gross margin Selling and administrative expenses % Sell expenses Administrative expenses % Total selling and administrative expenses 9% % Net operating income % Interest expense % % Net income before taxes % %