Question

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 $1,980,000 100 % Cost of goods sold 1,128,600 61 Gross profit $851,400 39% Selling expenses $534,600 23% Administrative expenses 198,000 10 Total operating expenses $732,600 33% Operating income $118,800 6 % Other income 39,600 2. $158,400 8 % Other expense 19,800 1 $138,600 Income before income tax 7 % 59,400 Income tax expense 3 $79,200 4 % Net income

Answer 1

Tannenhill Comp Common Sized neme Stelemats Corha year Endes! Oetenber 31. Tannenhl ANY TElectronies Tannenhi Jndyst Aunage Cam fary At ory fereut 41,980,000 Sales Cost Coods sold 4,1R8,600 57 35% 43 $851, 400 634,600 3 Selliug Epense A-lninisheatin Epen ses (0 37% Todal oprety npenses $73, 6 oo 33 4/18,800 Ofpratin nene 33, 600 क S8, प०० Ofhen dnome 8 1 19,80o Othen Expense 138, 600 FrConne befor 3nC TK Fncome Tax Exfense 37. 5१,५०० 3y Net nae