(Analyzing common-size financial statements) Use the common-size financial statements found here: to respond to your boss' request that you write up your assessment of the firm's financial condition. Specifically, write up a brief narrative that responds to the following questions: 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 expenses, and interest expenses. a. How much cash does Patterson have on hand relative to its total assets? The cash Patterson has on hand relative to its total assets is %. (Round to one decimal place.) - Data table 2016 $ 1.4 % 18.2 470 5,990 9,480 15,940 28.8 $ 48.4 % 17,020 51.6 32,960 100.0 % Common-Size Balance Sheet Cash and marketable securities Accounts receivable Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable Short-term notes Total current liabilities Long-term liabilities Total liabilities Total common shareholders' equity Total liabilities and shareholders' equity 21.9 % 20.7 7,210 6,820 14,030 7,020 $ 42.6 % 21.3 $ 21,050 63.9 % 11,910 36.1 32,960 100.0 % Common-Size Income Statement 2016 (Analyzing common-size financial statements) Use the common-size financial statements found here: to respond to your boss' request that you write up your assessment of the firm's financial condition. Specifically, write up a brief narrative that responds to the following questions: 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 expenses, and interest expenses. a. How much cash does Patterson have on hand relative to its total assets? The cash Patterson has on hand relative to its total assets is %. (Round to one decimal place.) - Data table 2016 $ 1.4 % 18.2 470 5,990 9,480 15,940 28.8 $ 48.4 % 17,020 51.6 32,960 100.0 % Common-Size Balance Sheet Cash and marketable securities Accounts receivable Inventory Total current assets Net property, plant, and equipment Total assets Accounts payable Short-term notes Total current liabilities Long-term liabilities Total liabilities Total common shareholders' equity Total liabilities and shareholders' equity 21.9 % 20.7 7,210 6,820 14,030 7,020 $ 42.6 % 21.3 $ 21,050 63.9 % 11,910 36.1 32,960 100.0 % Common-Size Income Statement 2016