EX 17-3 Common-sized income statement OBJ. 2 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 elec- tronics industry averages are expressed in percentages. (Continued) Electronics Industry Average 100% Sales Cost of merchandise sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue and expense: Other revenue Other expense Income before income tax expense Income tax expense Net income Tannenhill Company $4,000,000 2,120,000 $1,880,000 $1,080,000 640,000 $1,720,000 $ 160,000 2496 3896 || * 120,000 (80,000) $ 200,000 80,000 $ 120,000 196 a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round to the nearest whole percentage. b. the comparisons. parisfar as the data permit , comment on significant relationships revealed by