Instructions

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. The Tannenhills data are expressed in dollars. The electronics industry averages are expressed in percentages.

1		Tannenhill Company	Electronics Industry Average
2	Sales	$4,920,000.00	100.0%
3	Cost of goods sold	2,533,800.00	56.5
4	Gross profit	$2,386,200.00	43.5%
5	Selling expenses	$1,328,400.00	24.0%
6	Administrative expenses	787,200.00	14.0
7	Total operating expenses	$2,115,600.00	38.0%
8	Operating income	$270,600.00	5.5%
9	Other income	120,000.00	2.4
10		$390,600.00	7.9%
11	Other expense	74,000.00	1.5
12	Income before income tax	$316,600.00	6.4%
13	Income tax expense	80,000.00	1.6
14	Net income	$236,600.00	4.8%

A.	Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round percentages to one decimal place. Enter all amounts as positive numbers.