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

a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company with the industry average. Round to one decimal place.
b. As far as the data permit, comment on significant relationships revealed by the comparisons.

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Electronics Industry Average 100096 60.0 40,0% 24,096 14.0 Tannenhill Company $4,000,000 2130,000 $1,880,000 $1,080,000 640,000 1,720,000 $ 160,000 20,000 $ 280,000 80,000 $ 200,000 80,000 120,000 Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses 2.0% 3.0 5.096 2.0 3096 2.0 1.0% Other income Other expense Income before income tax Income tax expense Net income