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(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
(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: 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. 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. Complete the common-size balance sheet below: (Round to one decimal place.) Common-Size Balance Sheet 2016 Cash and marketable securities $ 460 % Accounts receivable 6,000 Inventory 9,470 Total current assets $ % 15,930 16,970 Net property, plant, and equipment Total assets 32,900 % Accounts payable 7,150 % Short-term debt 6,750 9,470 Inventory Total current assets $ 15,930 % Net property, plant, and equipment 16,970 Total assets 32,900 % $ $ Accounts payable 7,150 Short-term debt 6,750 Total current liabilities $ 13,900 % Long-term liabilities 7,020 Total liabilities $ 20,920 % Total common stockholders' equity 11,980 Total liabilities and shareholders' equity 32,900 %
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