ebook Show Me How Video Common-Sized Income Statement Revenue and expense data for the current calendar year for Dawg Electronics Company and for the electronics Industry are as follows. Dawg Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. Dawg Electronics Electronics Industry Company Average Sales $3,750,000 100% Cost of goods sold (2,062,500) (61.0) Gross profit $1,687,500 39.0 % Selling expenses $(1,125,000) (23.0) Administrative expenses (262,500) (10,0) Total operating expenses $(1,387,500) (33.0) % Operating income $300,000 I 6.0 % Other revenue and expense Other revenue 15,000 3.0 Other expense $(3,750) (1.0) Income before income tax $ 311,250 8.09 Income tax expense (93,750) (2.5) Net income $217,500 5.5% a. Prepare a common-sized Income statement comparing the results of operations for Dawg Electronics Company with the industry average. If required, round percentages to one decimal place. Check My Work Previous Email Instructor Save and it Submit Assement for Gradine ebook Show Me How Video m. Prepare a common-sized Income statement comparing the results of operations for Dawg Electronics Company with the Industry average. If required, round percentages to one decimal place. Dawg Electronics Company Common-Sized Income Statement Sales Dawg Electronics Dawg Electronics Company Amount Company Percent $3,750,000 % (2,062,500) Electronics Industry Average 100.0% (61.03% Cost of goods sold Gross profit $1,687,500 39.0% % Selling expenses Administrative expenses $(1,125,000) (262,500) $(1,387,500) $300,000 (23.0)% (10.09% (33.0) 96 90 6.0% Total operating expenses Operating income Other revenue and expense: Other revenue 16 15,000 (3,750) 3.0% (1.09% Other expense Income before income tax ### 8.0% $311,250 (93,750) $217,500 Income tax expense Net Income (2.5) 5.5% b. Which of the following statements is true about Dawg Electronics Company? Check My Work Previous Next > Email Instructor Save and Exit Submit Assignment for Grading