(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: Data Table 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.) 2016 Common-Size Balance Sheet Cash and marketable securities $ 510 % Accounts receivable 6,010 9,460 Inventory Total current assets $ 15,980 % Patterson Printing Company Balance Sheet, December 31, 2016 Cash and marketable securities Accounts receivable Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable Short-term debt Total current liabilities Long-term liabilities Total liabilities Total common stockholders' equity Total liabilities and stockholders' equity Net property, plant, and equipment 17,050 $510 6,010 9,460 $15.980 17,050 $33,030 $7,250 6,850 $14,100 7,030 $21,130 11,900 $33,030 $ 33,030 Total assets Accounts payable % % $ 7,250 Short-term debt 6.850 $ 14,100 % 7,030 Total current liabilities Long-term liabilities Total liabilities Total common stockholders' equity Total liabilities and shareholders' equity $ 21,130 % 11.900 $ 33,030 % Patterson Printing Company Income Statement for the Year Ended December 31, 2016 Revenues $30,020 Cost of goods sold (19,970) Gross profit $10,050 Operating expenses (7,950) Net operating income $2,100 Interest expense (890) Earnings before taxes $1,210 Income taxes (440) Net income $770 Done Enter any number in the edit fields and then click Check