percentages to one decimal place.) Comment on the significant changes B. EX 14-3 Common-sized income statement Obj. 2 ll net 3.0% sales 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 electronics industry averages are expressed in percentages Electronics Industry Average 100.0 % Tannenhill Company $4000,000 2420,000 $1,880,000 $1,080,000 wNI NOW Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses 600 400% 24.0% 140 38.0% 640,000 $1,720,000 $ 160,000 Operating income 2.0% Other income 120,000 3.0 $ 280,000 5.0% Other expense Income before income tax 80,000 2.0 $ 200,000 3.0% Income tax expense 80,000 2.0 Net income $ 120,000 1.0 % 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. As far as the data permit, comment on significant relationships revealed by the comparisons. ae