Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 11% Total liabilities Stockholders' equity: Common stock, $5 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 20,000 180,000 330,000 10,000 540,000 860,000 $1,400,000 $ 240,000 360,000 600,000 $ 150,000 650,000 800,000 $1,400,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2,160,000 Cost of goods sold 1,210,000 Gross margin 950,000 Selling and administrative expenses 640,000 Net operating income 310,000 Interest expense 39,600 Net income before taxes 270,400 Income taxes (30%) 81,120 Net income 189, 280 Account balances at the beginning of the year were accounts receivable, $210,000, and Inventory, $320,000. All sales were on account. Assets at the beginning or the year totaled $1,050,000, and the stockholders' equity totaled 5685.000 Required: Compute the following (For Requirements 1 to 4, enter your percentage answers rounded to 2 decimal places (.e., 0.1234 should be entered as 12.343.) t Gross margin percentage 2. Net profit margin percentage 3. Return on total assets 4. Return on equity 5. Was financial leverage positive or negative for the year? Oro margin percentage 2. Ne margin percentage Return on 4 Rotum on duty Sancial Loverage