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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 $450 6,010 9,480 $15,940 16,960 $32,900 $7,180 6,760 $13,940 6,990 $20,930 11,970 $32,900 Total common stockholders' equity Total liabilities and stockholders' equity Patterson Printing Company Income Statement for the Year Ended December 31, 2016 Revenues $29,990 Cost of goods sold (20,040) Gross profit $9,950 Operating expenses (8,030) Net operating income $1,920 Interest expense (900) Earnings before taxes $1,020 Income taxes (371) Net income $649 (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.) 2016 S 450 % Common-Size Balance Sheet Cash and marketable securities Accounts receivable Inventory Total current assets 6,010 9,480 S % 15,940 16,960 Net property, plant, and equipment Total assets S 32,900 % S S 7,180 % Accounts payable Short-term debt 6,760 S % 13,940 6.990 Total current liabilities Long-term liabilities Total liabilities Total common stockholders' equity S 20.930 % 11,970 32,900 Total liabilities and shareholders' equity S % Enter any number in the edit fields and then click Check

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