a. Prepare a common-sized income statement comparing the results of operations for Sorenson Electronics Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Sorenson Electronics Company Common-Sized Income Statement Sorenson ElectronicsSorenson Electronics Company Amount Company Percent Electronics Industry Average Sales Sales Returns & Allowances 47,740 Net sales Cost of Goods Sold Gross profit Selling Expenses Administrative Expenses 217,000 Total operating expenses 781,200 Operating income Other Income s 2,217,740 102.2 2.2 2,170,000 1,258,600 911,400 s 564,200 100.0 e 61 39 23 10 % 33 130,200 43,400 $173,600