financeRevenue and expense data for the current calendar year for Bull Run Company and for the electronics industry are as follows. The Bull Run Company data are expressed in dollars. The electronics industry averages are expressed in percentages.
$$
\begin{array}{lrr}
{\text{\hspace{35pt}}}&\textbf{}&\textbf{Electronics}\\
{\text{\hspace{35pt}}}&\textbf{Bull Run}&\textbf{Industry}\hspace{5pt}\\
{\text{\hspace{35pt}}}&\textbf{Company}&\textbf{Average}\hspace{7pt}\\\hline
\text{Sales}&\text{\$\hspace{5pt}2,100,000}&\text{105.0\\\%}\hspace{5pt}\\
\text{Sales returns and allowances}&\text{\underline{\hspace{18pt}100,000}}&\text{\underline{\hspace{10pt}5.0}}\hspace{14pt}\\
\text{Net sales}&\text{\$\hspace{5pt}2,000,000}&\text{100.0\\\%}\hspace{5pt}\\
\text{Cost of goods sold}&\text{\underline{\hspace{10pt}1,040,000}}&\text{\underline{\hspace{5pt}60.0}}\hspace{14pt}\\
\text{Gross profit}&\underline{{\$\hspace{13pt}\text{960,000}}}&{\text{\underline{\hspace{5pt}40.0}}}\%\hspace{6pt}\\
\text{Selling expenses}&\text{\$\hspace{13pt}560,000}&\text{22.0\\\%}\hspace{5pt}\\
\text{Administrative expenses}&\text{\underline{\hspace{18pt}300,000}}&\text{\underline{\hspace{5pt}12.0}}\hspace{14pt}\\
\text{Total operating expenses}&\underline{{\$\hspace{13pt}\text{860,000}}}&{\text{\underline{\hspace{5pt}34.0}}}\%\hspace{6pt}\\
\text{Operating income}&\text{{\$\hspace{13pt}100,000}}&\text{6.0\\\%}\hspace{6pt}\\
\text{Other income}&\text{\underline{\hspace{23pt}60,000}}&\text{\underline{\hspace{10pt}3.0}}\hspace{14pt}\\
\text{}&\text{{\$\hspace{13pt}160,000}}&\text{9.0\\\%}\hspace{6pt}\\
\text{Other expense}&\text{\underline{\hspace{23pt}40,000}}&\text{\underline{\hspace{10pt}2.0}}\hspace{14pt}\\
\text{Income before income tax}&\text{{\$\hspace{13pt}120,000}}&\text{7.0\\\%}\hspace{6pt}\\
\text{Income tax expense}&\text{\underline{\hspace{23pt}60,000}}&\text{\underline{\hspace{10pt}6.0}}\hspace{14pt}\\
\text{Net income}&\underline{\underline{\$\hspace{18pt}\text{60,000}}}&\underline{\underline{\hspace{10pt}1.0}}\%\hspace{6pt}\\
\end{array}
$$
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