Show Me How Calculator Common-Sted Income Statement Revenue and expense data for the current calendar year for t percentages h is Company and for the electronics industry are as follows. Tannenhil's data are expressed in dollars. The electronics industry everages are expressed in Electronics Sales Tannenhill Company $4,000,000 (2,120,000) Average 100.0 (600) Cost of goods sold $1.880,000 Gross profit Selling expenses Administrative expenses Total operating expenses 40.0 % (240) $(1,080,000) (640,000) $(1,720,000) $160,000 120,000 Operating income Other revenue and expense: Other revenue Other expense Income before income tax expense Income tax expense Net Income $200,000 (60.000) (2.0) $120,000 a. Prepare a common-sized income statement comparing the rest of operations for Tannenhil Company with the industry average Prepare a common since went o u t of inform y Tannenhi Taman Amount Percent Beronics Average Cost of goods sold 2.120.000 Gross prot K100,000 Selling expenses Administrative expenses total operating expenses K1.720,000 Operating income Other revenue and expenses Other revenue Other expense * - als al 1 Income before income tax expense Income tax expense Net income b. The company is managing the cost of manufacturing product mpact causes et income as a percent of sares to be man the industry and has signy than the industry average percentages. Tannenhill Company Electronics Industry Average Sales $4,000,000 100.0 % (2,120,000) (60.0) Cost of goods sold Gross profit Selling expenses 40.0 % $1,880,000 $(1,080,000) (640,000) $(1,720,000) (24.0) % (14.0) Administrative expenses (38.0) % 2.0 % $160,000 Total operating expenses Operating income Other revenue and expense: Other revenue Other expense 120,000 (80,000) $200,000 Income before income tax expense 3.0 (2.0) 3.0 (2.0) % Income tax expense (80,000) Net income $120,000 1.0 % TUDUUR Show Me H Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average $4,000,000 100% Sales Cost of goods sold (2,120,000) (60) Gross profit $1,880,000 % 40% Selling expenses % (24)% $(1,080,000) (640,000) Administrative expenses (14) Total operating expenses $(1,720,000) (38)% $160,000 2% Operating income Other revenue and expense: Other revenue 120,000 (80,000) Other expense Income before income tax expense $200,000 Income tax expense (80,000) Net income $120,000 b. The company is managing the cost of manufacturing product impact causes net income as a percent of sales to be than the Check My Work 5 more Check My Work uses remaining. assignment Score: 1.86%