Last Year $5,593,600 3,506,500 2,087,100 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,360,000 Cost of goods sold 4.780.000 Gross margin 2,580,000 Selling and administrative expenses Selling expenses 1,387,000 Administrative expenses 710.500 Total expenses 2.097,500 Det operating income 482,500 Interest expense 101.000 Het incone before taxes $ 301,500 1,079,500 617.500 1,697,000 390,100 18,000 302,100 Members of the company's board of directors are surprised to see that net income Increased by only $79,400 when sales increosed by $1766,400 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (ie. 01234 should be entered as 12.3).) Last Year This Year % % 0.0% 0.0 % % Sales Cost of goods sold Gross margin Selling and administrative expenses Seling expenses Administrative expenses Total selling and administrative expenses Net operating incomo Interest expense Net Income before taxes % 0.0 % 0.0 % 0.01 0.0% % 0.01% % 0.0%