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 Electronics Industry Average 100.0% 2 Sales 3 Cost of goods sold 565 4 Gross profit 43.5% 24.0% Tannenhill Company $4,920,000.00 2,535,800.00 $2,386,200.00 $1,328,400.00 787,200.00 $2,115,600.00 $270,600.00 120,000.00 $390,600.00 74.000.00 5 Selling expenses 6 Administrative expenses 7 Total operating expenses 8 Operating income 14.0 38.0% 5.5% 9 Other income 2.4 10 7.9% 11 Other expense 15 12 Income before income tax 6.4% 13 Income tax expense $316,600.00 80,000.00 $236,600.00 1.6 14 Net Income 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 B. As far as the data permit, comment on significant relationships revealed by the comparisons. 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. Question not attempted. Score: 0/39 Tannenhill Company Common-Sized Income Statement 1 For the Year Ended December 31 Tannenhill Company Amount Tannenhill Company Electronics Industry Average 2 Percent 3 Sales 100.0% Cost of goods sold 56.5% 5 Gross profit 435% Selling expenses 24.0% 7 Administrative expenses 14.0% 38.0% Total operating expenses 9 Operating income $4,920,000.00 2,535,800.00 $2,386,200.00 $1,328,400.00 787,200.00 52,115,600.00 $270,600.00 120,000.00 $390,600.00 74,000.00 $316,600.00 80,000.00 $236,600.00 55% 10 Other income 2.4% 11 7.9% 12 Other expense 15% 13 Income before income tax 6.4% 14 Income tax expense 1.6% 15 Net income 4.8%