Show Me How Calculator Common-Sized Income Statement Revenue and expense data for the current calendar...
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Show Me How Calculator 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. Tannenhill Company Electronics Industry Average Sales 100.0 % 60.0 40.0 % 24.0 % Cost of goods sold Gross profit Selling expenses Administrative expenses Total operating expenses Operating income Other revenue $4,000,000 2,120,000 $1,680,000 $1,080,000 640,000 $1,720,000 $160,000 120,000 14.0 38.0 % 2.0 % $280,000 Other expense 80,000 $200,000 80,000 3.0 Income before income tax Income tax expense % Net income $120,000 pany with the industry average. Enter all amounts as positive numbers a. Prepare a common-sized income statement comparing the results of operations for Tannenhill Company Common-Sized Income Statement For the Year Ended December 31 Check My Work All work saved. Email Instructor Save and Exit Submit Assignment for Grading
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