to respond to your boss' request that you write up vour assessment of the firm's financial condition (Analyzing common-size financial statements) Use the common-size financial statements found here: Specifically, write up a brief narrative that responds to the following questions: i Data Table a. How much cash does Patterson have on hand relative to its total assets? b. What proportion of Patterson's assets has the firm financed using short-term debt? Long-term debt? c. What percent of Patterson's revenues does the firm have left over after paying all of its expenses (including taxes)? d. Describe the relative importance of Patterson's major expense categories, including cost of goods sold, operating ex 2016 a. How much cash does Patterson have on hand relative to its total assets? Common-Size Balance Sheet Cash and marketable securities Accounts receivable 480 The cash Patterson has on hand relative to its total assets is %. (Round to one decimal place.) 6,010 9,530 1.5 % 18.2 28.9 48.5 % 51.5 16,020 17,010 Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable Short-term notes Total current liabilities 33,030 100.0 % 7,190 6,760 Long-term liabilities Total liabilities 13,950 6,970 20,920 12,110 33,030 21.8 % 20.5 42.2 % 21.1 63.3 % 36.7 100.0 % Total common shareholders' equity Enter your answer in the answer box and then click Check Answer. Total liabilities and shareholders' equity $ 100.0 % 66.7 Common-Size Income Statement Revenues Cost of goods sold Gross profit Operating expenses Net operating income 33.3 % 26.7 2016 30,010 (20,030) 9,980 (8,010) 1,970 (860) 1,110 (404) 706 6.6 % 2.9 Interest expense Earnings before taxes 3.7 % Income taxes 1.3 Net income 2.4 %