Common-Size Balance Sheet		2016
Cash and marketable securities	$	530	1.6	%
Accounts receivable		6,020	18.2
Inventory		9,460	28.6
Total current assets	$	16,010	48.5	%
Net property, plant, and equipment		17,010	51.5
Total assets	$	33,020	100.0	%
Accounts payable	$	7,160	21.7	%
Short-term notes		6,800	20.6
Total current liabilities	$	13,960	42.3	%
Long-term liabilities		7,010	21.2
Total liabilities	$	20,970	63.5	%
Total common shareholders equity		12,050	36.5
Total liabilities and shareholders equity	$	33,020	100.0	%

Common-Size Income Statement		2016
Revenues	$	30,000	100.0	%
Cost of goods sold		(20,010)	66.7
Gross profit	$	9,990	33.3	%
Operating expenses		(7,980)	26.6
Net operating income	$	2,010	6.7	%
Interest expense		(950)	3.2
Earnings before taxes	$	1,060	3.5	%
Income taxes		(385)	1.3
Net income	$	675	2.3	%

(Analyzing common-size financial statements) Use the common-size financial statements found here: 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: a. How much cash does Patterson have on hand relative to its total assets? b. What proportion of Patterson's assets has the firm financed using short-term debt? Long-term debt? c. What percent of Patterson's revenues does the firm have left over after paying all of its expenses (including taxes)? d. Describe the relative importance of Patterson's major expense categories, including cost of goods sold, operating expenses, and interest expenses. a. How much cash does Patterson have on hand relative to its total assets? The cash Patterson has on hand relative to its total assets is %. (Round to one decimal place.)