Revenue and expense data for the current calendar year for Dawg Electronics Company and for the electronics Industry are as follows. Dawg Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. Dawg Electronics Company Electronics Industry Average Sales 100 % $1,390,000 (903,500) Cost of goods sold (69) Gross profit $486,500 Selling expenses $(278,000) (13) % Administrative expenses (111,200) (12) Total operating expenses $(389,200) (25) % Operating income $97,300 Other revenue and expense: 1:| Other revenue 27,800 Other expense (13,900) Income before income tax $111,200 Income tax expense (41,700) Net income $69,500 a. Prepare a common-sized income statement comparing the results of operations for Dawg Electronics Company with the industry average. If required, round percentages to one decimal place. Dawg Electronics Company Common-Sized Income Statement Sales Dawg Electronics Dawg Electronics Electronics Industry Company Amount Company Percent Average $ $1,390,000 % 100% (903,500) (69)% $486,500 % % 31% Cost of goods sold % Gross profit % (13)% Selling expenses Administrative expenses $(278,000) ) (111,200) % (12)% Total operating expenses $(389,200) % (25)% $97,300 % 6% Operating income Other revenue and expense: Other revenue 4% 27,800 (13,900) Other expense (3)% Income before income tax hini % $111,200 (41,700) 7% Income tax expense % (3)% Net Income $69,500 % 4%