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.

Tannenhill

Company Electronics

Industry

Average

Sales $$2,690,000100\%$

Cost of merchandise sold $1,506,40060$

Gross profit $$1,183,60040\%$

Selling expenses $$726,30024\%$

Administrative expenses $295,90010$

Total operating expenses $$1,022,20034\%$

Income from operations $$161,4006\%$

Other revenue and expense:

Other revenue $53,8002$

Other expense $(26,900)1$

Income before income tax expense $$188,3007\%$

Income tax expense $80,7005$

Net income $$107,6002\%$

Question Content Area

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.