?(Analyzing common-size financial? statements)??Use the? common-size financial statements found? here:??

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to respond to your? boss' request that you write up your assessment of the? firm's financial condition. ? Specifically, write up a brief narrative that responds to the following? questions:

How much cash does Carver have on hand relative to its total? assets?

a.??What proportion of? Carver's assets has the firm financed using? short-term debt? ? Long-term debt?

b.??What percent of? Carver's revenues does the firm have left over after paying all of its expenses? (including taxes)?

c.??Describe the relative importance of? Carver's major expense categories including cost of goods? sold, operating? expenses, and interest expenses.

Common-Size Balance Sheet		2013
Cash and marketable securities	$	450	1.4%
Accounts receivable		6,040	18.3
Inventories		9,550	28.9
Current assets	$	16,040	48.5%
Net property plant and equipment		17,010	51.5
Total assets	$	33,050	100.0%
Accounts payable	$	7,200	21.8%
Short-term notes		6,770	20.5
Current liabilities	$	13,970	42.3%
Long-term liabilities		7,010	21.2
Total liabilities	$	20,980	63.5%
Total owners equity		12,070	36.5
Total liabilities and owners equity	$	33,050	100.0%

Common-Size Income Statement		2013
Revenues	$	30,050	100.0%
Cost of goods sold		(19,970)	66.5
Gross profit	$	10,080	33.5%
Operating expenses		(8,040)	26.8
Net operating income	$	2,040	6.8%
Interest expense		(920)	3.1
Earnings before taxes	$	1,120	3.7%
Taxes		(407)	1.4
Net income	$	713	2.4%