Common$-$Sized Income Statement

Revenue and expense data for the current calendar year for Tannenhill Company and for the electronics industry are as follows. Tannenhill$$s data are expressed in dollars. The electronics industry averages are expressed in percentages.

Tannenhill

Company Electronics

Industry

Average

Sales $$1,930,000100\%$

Cost of merchandise sold $1,061,50059$

Gross profit $$868,50041\%$

Selling expenses $$540,40025\%$

Administrative expenses $212,30010$

Total operating expenses $$752,70035\%$

Income from operations $$115,8006\%$

Other revenue and expense:

Other revenue $38,6002$

Other expense $(19,300)1$

Income before income tax expense $$135,1007\%$

Income tax expense $57,9005$

Net income $$77,2002\%$

Question Content Area

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 numb 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 Income Statement

For the Year Ended December $31$

$\backslash$table$[[,\backslash$table$[[$Tannenhill$],[$Company$],[$Amount$]],\backslash$table$[[$Tannenhill$],[$Company$],[$Percent$]],\backslash$table$[[$Electronics$],[$Industry$],[$Average$]]],[$Sales$,$$$1,930,000,\%,100\mathrm{.}0\%$