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* Data Table zing common-size financial statements) Use ically, write up a brief narrative that responds to much cash does Patterson have on hand relati at proportion of Patterson's assets has the firm fil at percent of Patterson's revenues does the firm scribe the relative importance of Patterson's majd Short-term notes 6,850 20.8 42.8% Total current liabilities Long-term liabilities 21.3 14,090 7,010 21,100 11,850 Total liabilities $ 84.0 % 36.0 Total common shareholders' equity Total liabilities and shareholders' equity 32,950 100.0 % w much cash does Patterson have on hand relati esh Patterson has on hand relative to its total as at proportion of Patterson's assets has the firm fi roportion of Patterson's assets that has been fine roportion of Patterson's assets that has been fina at percent of Patterson's revenues does the firm 2016 Common-Size Income Statement Revenues $ 30,020 100.0 % 66.5 (19.970) $ 10,050 33.5% 26.5 Bercent of Patterson's revenues that remained afte Cost of goods sold Gross profit Operating expenses Net operating income Interest expense Earnings before taxes scribe the relative importance of Patterson's majd $ 7.0% 3.2 cost of goods sold represents % of Patterson's operating expenses represent % of Patterson's interest expense represents % of Patterson's (7.960) 2,090 (950) 1.140 (415) 725 3.8 96 1.4 Income taxes Net income $ 2.4% your answer in each of the answer boxes. Print Done (Analyzing common-size financial statements) Use the common-size financial statements found here: B 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 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.) b. What proportion of Patterson's assets has the firm financed using short-term debt? Long-term debt? The proportion of Patterson's assets that has been financed using short-term debt is %. (Round to one decimal place.) The proportion of Patterson's assets that has been financed using long-term debt is %. (Round to one decimal place.) c. What percent of Patterson's revenues does the firm have left over after paying all of its expenses (including taxes)? The percent of Patterson's revenues that remained after paying all of its expenses is % (Round to one decimal place.) d. Describe the relative importance of Patterson's major expense categories, including cost of goods sold, operating expenses, and interest expenses. The cost of goods sold represents % of Patterson's sales. (Round to one decimal place.) The operating expenses represent % of Patterson's sales. (Round to one decimal place.) The interest expense represents % of Patterson's sales. (Round to one decimal place.) Enter your answer in each of the answer boxes Data Table size financial statements) Use brief narrative that responds to p your asses Common-Size Balance Sheet Patterson have on hand relati atterson's assets has the firm fi erson's revenues does the firm importance of Patterson's majd 2016 Cash and marketable securities $ 450 1.4 % Accounts receivable Patterson have on hand relati 5,990 18.2 Inventory 9,520 28.9 on hand relative to its total ass Total current assets $ 15.960 48.4 % atterson's assets has the firm fi Net property, plant, and equipment 16,990 51.6 son's assets that has been fing Total assets $ 32,950 100.0 % Accounts payable $ 7,240 22.0 % son's assets that has been fina Short-term notes 6,850 20.8 erson's revenues does the firm Total current liabilities $ 42.8 % 14,090 7,010 n's revenues that remained afte 21.3 Long-term liabilities Total liabilities $ 21,100 64.0 % importance of Patterson's majd Total common shareholders' equity 11,850 36.0 $ 32,950 Total liabilities and shareholders' equity 100.0 % represents % of Patterson's s represent% of Patterson's presents % of Patterson's Common-Size Income Statement 2016 $ 30.020 100.0 % Revenues Print Done each of the answer boxes