Commons come statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows, Tannenhir's data are expressed in dollars. The electronics industry averages are expressed in percentages Electronics Tannenhill Industry Company Average Sales $1,990,000 100 Cost of goods sold 1,074,600 Gross profit $915,400 Selling expenses $577,100 Administrative expenses 218,900 Total operating expenses $796,000 Operating income $119,400 Other Income 39,800 $159,200 Other expense 19,900 Income before income tax $139,300 Income tax expense 59,700 Net income $79,500 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average if required, round percentages to one decimal place Enter amounts as positive numbers Tannenhill company Common Seed Income Statement For the Year Ended December Tanner Company Amount Towel Company Percent Electronics Industry Average Sales $1.990,000 100.0% Cost of goods sold 1024,600 Gross proft 915.400 5577.100 218.500 Administrative expenses a. Prepare a common-sired income statement comparing the results of operations for Tannenhill Company with the industry average. If required, round percentages to one decimal place. Enter all amounts as positive numbers. Tanner Company Common Sized Income Statement For the Year Ended December 31 Tannenhill Company Amount Tannenhis Company Percent Electronics Industry Average $1,990,000 Cost of goods sold 1,074,600 Gross proth $915,400 Selling expenses $577,100 Administrative expenses 21900 Total operating expenses $795,000 Operating income $119,00 Other income 39,800 $150 200 Other expense 19.900 Income before income tax $139,300 Income tax expense 59,700 Net Income 579,600 selling and administrative expenses relative to b. The company is managing the cost of manufacturing product the industry. The combined impact causes net income as a percent of sales to be than the industry, and has slightly than the industry average