As the newest hire to the financial analysis group at Patterson Printing Company, you have been asked to perform a basis financial analysis of the company's most recent financial statements. The 2016 balance sheet and income statement for the Patterson are shown here: LOADING.... a. After discussing your training asignment with a fellow analyst who was hired last year, you learn that the first step in your completing the assignment is to prepare a common-size balance sheet for Patterson. b. The second step is to prepare a common-size income statement for the firm.

Balance Sheet, December 31, 2016 Cash and marketable securities $500 Accounts receivable 6,040 Inventory 9,530 Total current assets $16,070 Net property, plant, and equipment 16,970 Total assets $33,040 Accounts payable $7,200 Short-term debt 6,780 Total current liabilities $13,980 Long-term liabilities 7,030 Total liabilities $21,010 Total common stockholders' equity 12,030 Total liabilities and stockholders' equity $33,040