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plesse help with the numbers in the problem A comparative...

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Accounting

plesse help with the numbers in the problem
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A comparative income statement is given below for McKenzie Sales, Limited, of Toronto Last Year $ 5,570,800 3,515,000 2,055,800 MeKenzie Sales, Limited Comparative Income Statement This Year Sales $ 7,330,000 Cost of goods sold 4,630,000 Gross margin 2,700,000 Selling and administrative expenses Selling expenses 1,372,000 Administrative expenses 706,000 Total expenses 2,078,000 Net operating income 622,000 Interest expense 97,000 Net Incone before taxes $ 525,000 1,075,500 610,000 1,685,500 370,300 85,000 $ 285,300 Members of the company's board of directors are surprised to see that net income increased by only $239,700 when sales increased by $1759,200 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 Seling and administrative expenses Selling expenses Administrative expenses Total selling and administrative expenses Net operating income Interest expense % % *** % % % %

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