Use the common-size financial statements found here: LOADING... 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.

Johnson company uses the allowance method to account for uncollectible accounts receivable. bad debt expense is established as a percentage of credit sales. for 2018, net credit sales totaled $6,400,000, and the estimated bad debt percentage is 1.40%. the allowance for uncollectible accounts had a credit balance of $61,000 at the beginning of 2018 and $49,500, after adjusting entries, at the end of 2018.required: 1. what is bad debt expense for 2018 as a percent of net credit sales? 2. assume johnson makes no other adjustment of bad debt expense during 2018. determine the amount of accounts receivable written off during 2018.3. if the company uses the direct write-off method, what would bad debt expense be for 2018?