(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:

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.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

acommon-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

acommon-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	$	470		%
Accounts receivable		5,990
Inventory		9,550
Total current assets	$	16,010		%
Net property, plant, and equipment		17,000
Total assets	$	33,010		%
Accounts payable	$	7,240		%
Short-term debt		6,770
Total current liabilities	$	14,010		%
Long-term liabilities		6,970
Total liabilities	$	20,980		%
Total common stockholders equity		12,030
Total liabilities and shareholders equity	$	33,010		%

Patterson Printing Company
Balance Sheet, December 31, 2016
Cash and marketable securities	$470
Accounts receivable	5,990
Inventory	9,550
Total current assets	$16,010
Net property, plant, and equipment	17,000
Total assets	$33,010
Accounts payable	$7,240
Short-term debt	6,770
Total current liabilities	$14,010
Long-term liabilities	6,970
Total liabilities	$20,980
Total common stockholders' equity	12,030
Total liabilities and stockholders' equity	$33,010

Patterson Printing Company
Income Statement for the Year Ended December 31, 2016
Revenues	$29,960
Cost of goods sold	(20,010)
Gross profit	$9,950
Operating expenses	(8,040)
Net operating income	$1,910
Interest expense	(910)
Earnings before taxes	$1,000
Income taxes	(364)
Net income	$636