Common-Sized 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. Tannenhill Electronics Industry Company Average Sales Cost of goods sold $4,000,000 100.0 % (2,120,000) (60.0) Gross profit Selling expenses $1,880,000 40.0 % $(1,080,000) (24.0) % Administrative expenses (640,000) (14.0) Total operating expenses $(1,720,000) (38.0) % Operating income $160,000 2.0 % Other revenue and expense: Other revenue 120,000 3.0 Other expense (80,000) (2.0) Income before income tax expense $200,000 3.0 % (80,000) (2.0) Income tax expense $120,000 1.0 % Net income tatoment comparing the reculte of onoratione for Tannenhill Company with the industry auorana