$($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.

Balance Sheet, December $31,2016$

Cash and marketable securities $$450$

Accounts receivable $6,000$

Inventory $,9,450$

Total current assets $$15,900$

Net property, plant, and equipment $17,010$

Total assets $$32,910$

Accounts payable $$7,160$

Short$-$term debt $6,800$

Total current liabilities $$13,960$

Long$-$term liabilities $7,010$

Total liabilities $$20,970$

Total common stockholders' equity $11,940$

Total liabilities and stockholders' equity $$32,910$