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. Dawg Electronics Industry Electronics Company Average 100 % (75) Sales $2,050,000 Cost of goods sold (1,414,500) Gross profit $635,500 25 % Seling expenses $(348,500) (10) % Administrative expenses (143,500) (9) Total operating expenses $(492,000) (19)% Operating income $143,500 6% Other revenue and expense: Other revenue 41,000 Other expense (20,500) (3) Income before income tax $164,000 7% Income tax expense (61,500) $102,500 (3) 4% Net income a. Prepare a common-sized income statement comparing the results of operations for Dawg Electronics Company with the industry average. If required, round percentages to one decimal place. Dawg Electronics Company Common-Sized Income Statement Dawg Electronics Dawg Electronics Company Amount Company Percent Electronics Industry Average Sales $2,050,000 % 100% Cost of goods sold (1,414,500) % (75)% Gross profit $635,500 % 25% Selling expenses $(348,500) % (10)% Administrative expenses (143,500) % (9)% Total operating expenses $(492,000) % (19)% Operating income $143,500 % 6% Other revenue and expense: Other revenue 41,000 % 4% Other expense (20,500) % (3)% Income before income tax $164,000 % 7% Income tax expense (61,500) % (3)% Net income $102,500 % 4%