McKenzie Sales, Ltd Comparative Income Statement This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses: $7,330,000 $5,570,800 4,720,0003,507,000 3 5071000 2,063,800 2,610,000 Selling expenses 1,081,500 613,000 1,694,500 369,300 86,000 283,300 1,379,000 712,000 2,091,000 519,000 102,000 417,000 Administrative expenses Total expenses Net operating income Interest expense Net income before taxes Members of the company's board of directors are surprised to see that net income increased by only $133,700 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 decimal place (i.e., 0.1234 should be entered as 12.3).) This Year Last Year Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses