Last Year $5,608,800 3,507,500 2,101,300 Comparative Income Statement This Year Sales $7,380,000 Coat of goods sold 4,620,000 Gross margin 2,760,000 Selling and administrative expenses Selling expenses 1,393,000 Administrative expenses 710,000 Total expenses 2, 103,000 Net operating income 657,000 Interest expense 98,000 Net income before taxen $559,000 1,079,000 614,000 1,693,000 408,300 86,000 $ 322,300 Members of the company's board of directors are surprised to see that net income increased by only $236,700 when sales increased by $1,771,200 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (le, 0.1234 should be entered as 12.3).) Last Year This Year % % % % % % 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 % % % % 96 % % % %6 %