please answer the required section1

A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: Last Year $5,555,600 3,508,000 2,047,600 McKenzie Sales, Ltd. Comparative Income Statement This Year Sales $7,310,000 Cost of goods sold 4,770,000 Gross margin 2,540,000 Selling and administrative expenses: Selling expenses 1,377,000 Administrative expenses 702,500 Total expenses 2,079,500 Net operating income 460,500 Interest expense 96,000 Net income before taxes $ 364,500 1,077,000 614,000 1,691,000 356,600 90,000 $ 266,600 Members of the company's board of directors are surprised to see that net income increased by only $97,900 when sales increased by $1,754,400. 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 % % 0.01% % 0.01% % % 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 0.01% 0.0 % *** % 0.0 % 0.0 % % 0.0% 0.0 %