S (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 anignment 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. Aher 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 520 Accounts receivable 5,990 Inventory 9,550 16,060 Net property, plant, and equipment 17,040 Total assets 33,100 Accounts payable $ 7.250 Short-term debt 6.790 Total curront des 14.040 Long tom abilities 6,960 Total abilities 21.000 Total conuimon stockholders equity 12.100 Total liabilities and shareholders equity 33,100 Total current assets $ $ X $ $ 5 % 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 $520 5,990 9,550 $16,060 17,040 $33,100 $7,250 6,790 $14,040 6,960 $21,000 12,100 $33,100 Patterson Printing Company Income Statement for the Year Ended December 31, 2016 Revenues $29,980 Cost of goods sold (20,000) Gross profit $9,980 Operating expenses (8,050) Net operating income $1,930 Interest expense (910) Earnings before taxes $1,020 Income taxes (371) Net income $649