(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 asta? The cash Patterson has on hand relative to the total assets is % (Round to one decimal place) 9/29/2021 Data Table Common-Size Balance Sheet 2016 $ 540 1.6 % Cash and marketable securities Accounts receivable 6,050 18.3 Inventory 9,480 28.7 Total current assets $ 48.6 % 16,070 16,970 Net property, plant, and equipment 51.4 Total assets 33,040 100.0 % $ $ 7,230 21.9 % 6,830 20.7 $ 14,060 42.6 % Accounts payable Short-term notes Total current liabilities Long-term liabilities Total liabilities Total common shareholders' equity Total liabilities and shareholders' equity 6,990 21.2 $ 21,050 63.7 % 11,990 36.3 33,040 100.0 % Common-Size Income Statement 2016 $ 100.0 % 66.8 30,020 (20.050) 9.970 (7.970) 33.2 % Revenues Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes 26.5 $ 6.7 % 2,000 (900) 3.0 $ 1.100 3.7 % Income taxes (400) 1.3 Net income $ 700 2.3%