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 $$2,420,000100\%$

Cost of goods sold $(1,573,000)(70)$

Gross profit $$847,00030\%$

Selling expenses $$(484,000)(12)\%$

Administrative expenses $(193,600)(12)$

Total operating expenses $$(677,600)(24)\%$

Operating income $$169,4006\%$

Other revenue and expense:

Other revenue $48,4004$

Other expense $(24,200)(3)$

Income before income tax $$193,6007\%$

Income tax expense $(72,600)(4)$

Net income $$121,0003\%$

Question Content Area

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.