Campers, In statement for the company and a common size summary for the industry in which the company operates. (Notice that the percentages in the right-hand column are not for Campers, Inc., but are average percentages for the industry.) c., manufactures camping equipment. Shown below for the current year are the income ng e Campers, Industry Inc. Average 100% 9.800,000 5 43% Operating expenses $7,600,000 2,600,000 1.200,000 1,400,000 16% 20 36% 7% 3 4% 14% Total operating expenses... 23% Instructions a. Prepare a two-column common size income statement. The first column should show for Campers, Inc., all items expressed as a percentage of net sales. The second column sho show the equivalent industry average for the data given in the problem. The purpose of this common size statement is to compare the operating results of Campers, Inc., with the average for the industry uld b. Comment specifically on differences between Campers, Inc, and the industry average with s, operat respect to gross profit on sales, selling expenses, general and administrative expense ing income, net income, and return on assets. Suggest possible reasons for the more important disparities