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 $1,370,000 100% Cost of goods sold 917,900 71 Gross profit $452,100 29% Selling expenses $260,300 16% Administrative expenses 109,600 7 Total operating expenses $369,900 23 % Operating income $82,200 6 % Other revenue 27,400 2 $109,600 8 % Other expense 13,700 1 Income before income tax $95,900 7 % 5 Income tax expense Net income 41,100 $54,800 2 % 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 Tannenhill Tannenhill Electronics Company Company Industry Amount Percent Average Sales $1,370,000 % 100.0% Cost of goods sold 917,900 % 71% Gross profit $452,100 % 29% Selling expenses $260,300 % 16% Administrative expenses Total operating expenses Income from operations 109,600. % 7% $369,900 % 23% $82,200 % 6% Other revenue 27,400 % 2% $109,600 % 8% Other expense 13,700 % 1% Income before income tax $95,900 % 7% Income tax expense 41,100 % 5% Net income $54,800 % 2%