Instructions Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. The Tannenhill's data are expressed in dollars. The electronics industry averages are expressed in percentages. 1 Tannenhill Company $4,060,000.00 2,111,200.00 Electronics Industry Average 100.0% 2 Sales 3 Cost of goods sold 58.0 4 Gross profit $1,948,800.00 42.0% s Selling expenses $1,055,600.00 23.0% & Administrative expenses 649,600.00 14.0 7 Total operating expenses $1,705,200.00 37.0% a Operating income 5.0% $243,600.00 118,000.00 9 Other income 29 10 $361,600.00 7.9% 11 Other expense 72,000.00 1.8 12 Income before income tax $289,600.00 6.1% 13 Income tax expense 78,000.00 19 14 Net income $211,600.00 4.2% A Prepare a common-sized income statement comparing the results of operations for Tannenhil Company with the industry average. Round percentages to one decimal place. Enter all amounts as positive numbers. Income Statement Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average Round percentages to one decimal piece. Enter all amounts as positive numbers. Question not attempted. Score: 0/39 Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Tannenhill Company 1 Tannenhill Company Percent Electronics Industry Average 2 Amount 3 Sales 100.0% 58.0% 42.0% 23.0% Cost of goods sold Gross profit Selling expenses 7 Administrative expenses Total operating expenses Operating income 14.0% 37.0% $4,060,000.00 2,111,200.00 $1,943,800.00 $1,055,600.00 649,600.00 $1,705,200.00 $245,600.00 118,000.00 $361,600.00 72,000.00 $289,600.00 78,000.00 $211,600.00 5.0% 10 Other income 2.9% 11 7.9% 12 Other expense 1.8% 13 Income before income tax 6.1% 14 Income tax expense 1.9% 15 Net income 4.2%