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

	Tannenhill Company			Electronics Industry Average
Sales	$2,420,000			100	%
Cost of merchandise sold	1,476,200			67
Gross profit	$943,800			33	%
Selling expenses	$580,800			19	%
Administrative expenses	217,800			8
Total operating expenses	$798,600			27	%
Income from operations	$145,200			6	%
Other revenue and expense:
Other revenue	48,400			2
Other expense	(24,200)			1
Income before income tax expense	$169,400			7	%
Income tax expense	72,600			4
Net income	$96,800			3	%

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

Tannenhill Company Common-Sized Income Statement For the Year Ended December 31

	Tannenhill Company Amount	Tannenhill Company Percent	Electronics Industry Average
Sales	$2,420,000	%	100.0%
Cost of merchandise sold	1,476,200	%	67%
Gross profit	$943,800	%	33%
Selling expenses	$580,800	%	19%
Administrative expenses	217,800	%	8%
Total operating expenses	$798,600	%	27%
Income from operations	$145,200	%	6%
Other revenue and expense:
Other revenue	48,400	%	2%
Other expense	(24,200)	%	1%
Income before income tax	$169,400	%	7%
Income tax expense	72,600	%	4%
Net income	$96,800	%	3%