CHECR my work A comparative Income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,601,200 3,510,000 2,092,200 Mekenio salos, Ltd. Comparative Income Statement This Year Sales $7.370.000 Cost of goods sold 4,590,000 Gross margin 2,780,000 Selling and administrative expennen Belling expenses 1,378,000 Administrative expenses 703,000 Total expenses 2,081,000 Net operating income 699,000 Interest expense 101,000 Met income before taxe $ 598.000 1.078,500 608,000 1,686,500 404,700 86,000 $ 318,700 Members of the company's board of directors are surprised to see that net income increased by only $279,300 when soles increased by $1,768,800. Required: 1 Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (... 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 % % de de % 0.0 % 0.0 % % 0.0 % 0.0 %