eBook Show Me How Common-Sized Income Statement Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhills data are expressed in dollars. The electronics Industry averages are expressed in percentages. Electronics Tannenhill Industry Company Average Sales $1,860,000 100 % Cost of merchandise sold 1,190,400 69 Gross profit $669,600 31 % Selling expenses $409,200 18 % Administrative expenses 148,800 7 Check My Work