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	$1,530,000			100	%
Cost of goods sold	(1,040,400)			(71)
Gross profit	$489,600			29	%
Selling expenses	$(275,400)			(12)	%
Administrative expenses	(107,100)			(11)
Total operating expenses	$(382,500)			(23)	%
Operating income	$107,100			6	%
Other revenue and expense:
Other revenue	30,600			4
Other expense	(15,300)			(3)
Income before income tax	$122,400			7	%
Income tax expense	(45,900)			(5)
Net income	$76,500			2	%

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.

	Dawg Electronics Company Amount	Dawg Electronics Company Percent	Electronics Industry Average
Sales	$1,530,000	fill in the blank	100%
Cost of goods sold	(1,040,400)	fill in the blank	(71)%
Gross profit	$489,600	fill in the blank	29%
Selling expenses	$(275,400)	fill in the blank	(12)%
Administrative expenses	(107,100)	fill in the blank	(11)%
Total operating expenses	$(382,500)	fill in the blank	(23)%
Operating income	$107,100	fill in the blank	6%
Other revenue and expense:	blank	blank	blank
Other revenue	30,600	fill in the blank	4%
Other expense	(15,300)	fill in the blank	(3)%
Income before income tax	$122,400	fill in the blank	7%
Income tax expense	(45,900)	fill in the blank	(5)%
Net income	$76,500	fill in the blank	2%