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4% a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry ave Enter all amounts as positive numbers. Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Amount Tannenhill Company Percent Electronics Industry Average Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total o Operating income Other income $1,100,000 737 300 $363,000 $209,000 88,000 100 100.0% 71% 29% 16% 7% 23% 6% 2% 8% 1% 7% 3% 496 expenses $297,000 $66,000 22,000 $88,000 11,000 Income before income tax $77,000 33,000 $44,000 Other expense Income tax expense Net income Check My Work