A comparative income statement is given below for McKenzie Sales, Ltd., of Toronto: McKenzie Sales, Ltd. Comparative Income Statement This Year Last Year Sales $ 7,400,000 $ 5,624,000 Cost of goods sold 4,750,000 3,513,500 Gross margin 2,650,000 2,110,500 Selling and administrative expenses: Selling expenses 1,392,000 1,079,000 Administrative expenses 704,500 608,500 Total expenses 2,096,500 1,687,500 Net operating income 553,500 423,000 Interest expense 101,000 87,000 Net income before taxes $ 452,500 $ 336,000 Members of the company’s board of directors are surprised to see that net income increased by only $116,500 when sales increased by $1,776,000. 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).)