Common Sired Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics Industry are as follows. Tannenhill's data are expressed in dollars. The electronics Industry averages are expressed in percentages Electronics Tannenhill Industry Company Average Sales $4,000,000 100.0 % Cost of goods sold (2,120,000) (60.0) Gross profit $1,650,000 400 W Selling expenses $(1,080,000) (240) Administrative expenses (640,000) (14.0)