February $27$th$,$ Eastern Time Zone, by midnight.

$6-7$ COMMON SIZE FINANCIAL STATEMENTS The balance sheet and income statement for

Webb Enterprises Inc. are found below:

a$.$ Prepare a common size balance sheet for Webb Enterprises.

b$.$ Prepare a common size income statement for Webb Enterprises.

c$.$ Use your common size financial statements to respond to your boss' request that

you write an assessment of the firm's financial condition. Specifically, write a brief

narrative that responds to the following questions:

How much cash does Webb have on hand relative to its total assets?

What proportion of Webb's assets has the firm financed using short$-$term debt?

Long$-$term debt?

What percentage of Webb's revenues does the firm have left over after paying all

of its expenses $($including taxes$)?$

Describe the relative importance of Webb's major expense categories, including

cost of goods sold, operating expenses, and interest expenses.