Common-Sized Income Statement Revenue and expense data for the current calendar year for Dawg Electronics Company and for the electronics industry are as follows. Dawg Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. Sales Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax Income tax expense Net income Dawg Electronics Company $3,750,000 (2,062,500) $1,687,500 $(1,125,000) (262,500) $(1,387,500) $300,000 15,000 $(3,750) $ 311,250 (93,750) $217,500 Electronics Industry Average 100 % (61.0) 39.0 % (23.0) % (10.0) (33.0) % 6.0 % 3.0 (1.0) 8.0 % (2.5) 5.5 %