Tannenhill Company

Common$-$Sized Income Statement

For the Year Ended December $31$

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. Tannenhill Company Common-Sized Incorne Staternent For the Year Ended Decernber 31 Tannenhill Tannenhill Company Company Amount Percent Electronics Industry Average Sales Chapter 17 Assignment assignment take frame Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Income from operations Other revenue Other expense Income before income tax Income tax expense Net income 1,139,400 $970,600 $611,900 232,100 $844,000 $126,600 42,200 $168,800 21,100 $147,700 63,300 $84,400 0/0 0/0 0/0 0/0 0/0 60% 40% 24% 10% 34% 6% 2% 8% 1% 7% 40/0 3%