Parts A&B

(Preparing common-size financial statements) 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: B. 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. * Data Table a. After discussing your training asignment with a fellow analyst who was hired last year, yo Complete the common-size balance sheet below: (Round to one decimal place.) Common-Size Balance Sheet $ 2016 460 5,950 Cash and marketable securities Accounts receivable % Inventory 9,530 Total current assets $ 15,940 % 16,970 32,910 $ % Net property, plant, and equipment Total assets Accounts payable Short-term debt Total current liabilities $ % 7,160 6,850 $ 14,010 % 6,950 Long-term liabilities Total liabilities $ 20,960 % Balance Sheet, December 31, 2016 Cash and marketable securities $460 Accounts receivable 5,950 Inventory 9,530 Total current assets $15,940 Net property, plant, and equipment 16,970 Total assets $32,910 Accounts payable $7,160 Short-term debt 6,850 Total current liabilities $14,010 Long-term liabilities 6,950 Total liabilities $20,960 Total common stockholders' equity 11,950 Total liabilities and stockholders' equity $32,910 (Click on the icon in order to copy its contents into a spreadsheet.) Patterson Printing Company Income Statement for the Year Ended December 31, 2016 Revenues $29.990 Cost of goods sold (20,020) Gross profit $9.970 Operating expenses (8,040) Net operating income $1,930 Interest expense (930) Earnings before taxes $1,000 Income taxes Net income $636 (Click on the icon in order to copy its contents into a spreadsheet.) Total common stockholders' equity 11,950 Total liabilities and shareholders' equity $ 32,910 % Enter any number in the edit fields and then click Check Answer. (364) 1 part