Use the common-size financial statements found here: (see data table attached) 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?

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?

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.

Data Table 2016 Common-Size Balance Sheet 1.4 % Cash and marketable securities Accounts receivable Inventory 470 5,960 18.1 9,480 15,910 48.4% 16,970 28.8 Total current assets 51.6 Net property. plant, and equipment 32,880 100.0 % Total assets 21.7 % 20.8 Accounts payable Short-term notes Total current liabilities 7,150 6,840 13,990 42.5% 6,960 12 Long-term liabilities Total liabilities 20,950 63.7 % Print Done ml