Common-Sized Income Statement Revenue and expense data for the current calendar year for Dawg Electronics Company and for the electronics industry are as follo Dawg Electronics Company data are expressed in dollars. The electronics industry averages are expressed in percentages. Dawg Electronics Company Electronics Industry Average Sales $3,750,000 100 % Cost of goods sold (2,062,500) (61.0) $1,687,500 39.0 % Gross profit Selling expenses Administrative expenses Total operating expenses S(1,125,000) (23.0) % (262,500) (10,0) $(1,387,500) (33.0) % Operating income $300,000 6.0 % Other revenue and expense: Other revenue 15,000 3.0 Other expense S(3,750) (1.0) Income before income tax $ 311,250 8.0 % Income tax expense (93,750) (2.5) cs Company with the mosty Yold-sized Income Statement comparing the is of operations average. If required, round percentages to one decimal place. Dawg Electronics Company Common-Sized Income Statement Dawg Electronics Dawg Electronics Electronics Industry Company Amount Company Percent Average $3,750,000 % 100.0% Sales Cost of goods sold (2,062,500) % (61.09% $1,687,500 % 39.0% % $(1,125,000) (262,500) (23.09% (10.09% % $(1,387,500) (33.0) Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue and expense: Other revenue Other expense Income before income tax $300,000 6.0% 15,000 3.0% (3.750) (1.0)% $311,250 80% (93,750) (2.5)% Income tax expense $217,500 5.5% Net income