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. Electronics Tannenhill Industry Company Average Sales $2,140,000 100 % Cost of merchandise sold 1,498,000 76 Gross profit $642,000 24 % Selling expenses $363,800 13% Administrative expenses 149,800 5 Total operating expenses $513,600 18 % Income from operations $128,400 6% Other revenue and expense: 42,800 2 Other revenue Other expense (21,400) 1 Income before income tax expense $149,800 7% 64,200 4 Income tax expense $85,600 3% Net income Dronare a common-sized income statement.comparing the results of onerations for Tannenhill Company with the Industry suarana Tf