Acomparative income statement is given below for mckenzie sales, ltd., of toronto: mckenzie sales, ltd. comparative income statement this year last year sales $ 7,380,000 $ 5,608,800 cost of goods sold 4,630,000 3,512,500 gross margin 2,750,000 2,096,300 selling and administrative expenses: selling expenses 1,371,000 1,076,500 administrative expenses 711,000 609,000 total expenses 2,082,000 1,685,500 net operating income 668,000 410,800 interest expense 102,000 92,000 net income before taxes $ 566,000 $ 318,800 members of the company’s board of directors are surprised to see that net income increased by only $247,200 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 (i. e., 0.1234 should be entered as 12.