Last Year $5,616,400 3,511,000 2,105,400 Mekanie sales, Ltd. Comparative Income Statement This Year Sales $7,390,000 Cont of goods sold 4.740.000 Gross margin 2,650,000 Selling and administrative expenses Selling expenses 1,395,000 Administrative expenses 702,000 Total expenses 2,097,000 Net operating income 553,000 Interest expense 105,000 Not incane before taxes $ 448,000 1,073,500 613,000 1,686,500 418,900 89,000 $ 529.900 Members of the company's board of directors are surprised to see that net income increased by only $118,100 when sales increased by $1,773,600 Required: 1. Express each year's income statement in common-size percentages. (Round your percentage answers to 1 decimal place (ie. 0.1234 should be entered as 12,3).) This Year Sales % % Last Year % % 0.0 % 0.0% % 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 % % 0.01% % 0.01% 0.01% 0.01% % 0.0%