A Data Table X recent financial stateme (Preparing common-size financial statements) As the newest hire to the financial analysis group at Patter The 2016 balance sheet and income statement for the Patterson are shown here: a. After discussing your training asignment with a fellow analyst who was hired last year, you learn that the fir b. The second step is to prepare a common-size income statement for the firm. a. After discussing your training asignment with a fellow analyst who was hired last year, you learn that the fir Complete the common-size balance sheet below: (Round to one decimal place.) Common-Size Balance Sheet 2016 550 Cash and marketable securities Accounts receivable Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable Short-term debt Total current liabilities Long-term liabilities Total liabilities Total common stockholders' equity Total liabilities and stockholders' equity $550 5,960 9,480 $15,990 16,990 $32,980 $7,210 6,810 $14,020 6,980 $21,000 11,980 $32,980 Cash and marketable securities Accounts receivable 5,960 Inventory Total current assets 9,480 15,990 16,990 32,980 Net property, plant, and equipment 7,210 Total assets Accounts payable Short-term debt Total current liabilities Long-term liabilities 6,810 14,020 6,980 21,000 11,980 32,980 Total liabilities Patterson Printing Company Income Statement for the Year Ended December 31, 2016 Revenues $30,010 Cost of goods sold (20,050) Gross profit $9,960 Operating expenses (8,010) Net operating income $1,950 Interest expense (890) Earnings before taxes $1,060 Income taxes (385) Net income $675 Total common stockholders' equity Total liabilities and shareholders' equity b. The second step is to prepare a common-size income statement for the firm. Complete the common-size income statement below: (Round to one decimal place.) Enter any number in the edit fields and then continue to the next question. Done i Data Table - X recent financials (Preparing common-size financial statements) As the newest hire to the financial analysis group at Patter The 2016 balance sheet and income statement for the Patterson are shown here: a. After discussing your training asignment with a fellow analyst who was hired last year, you learn that the fir b. The second step is to prepare a common-size income statement for the firm. % Short-term debt Total current liabilities Long-term liabilities Total liabilities 6,810 14,020 6,980 21,000 11,980 Cash and marketable securities Accounts receivable Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable Short-term debt Total current liabilities Long-term liabilities Total liabilities Total common stockholders' equity Total liabilities and stockholders' equity $550 5,960 9,480 $15,990 16,990 $32,980 $7,210 6,810 $14,020 6,980 $21,000 11,980 $32,980 Total common stockholders' equity 32,980 Total liabilities and shareholders' equity , b. The second step is to prepare a common-size income statement for the firm. Complete the common-size income statement below: (Round to one decimal place.) Common-Size Income Statement Revenues Cost of goods sold Gross profit Operating expenses Net operating income 2016 30,010 (20,050)| 9,960 (8,010) | 1,950 (890) 1,060 (385) 675 Patterson Printing Company Income Statement for the Year Ended December 31, 2016 Revenues $30,010 Cost of goods sold (20,050) Gross profit $9,960 Operating expenses (8,010) Net operating income $1,950 Interest expense Earnings before taxes $1,060 Income taxes (385) Net income $675 (890) Interest expense Earnings before taxes Income taxes Net income Enter any number in the edit fields and then continue to the next question. Done