Castile eroducts, Incorporated Balance sheet Deceiber 31 Assets Current assets: Cash $23,060290,000350,00011,000574,000870,909$1,444,000 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, 9% Total liabilities Stockholders' equity: cominon stock, $5 par value Retained earnings rotal stockholders' equity Fotal liabilities and stockholders' equity Castile Products, Incorponated Income Statement: For the Year Ended December 31 Sales cost of goods sold Gross margin Selling and adoinistrative expenses Net operating income Interest expense Wet income before taxes Incone taxes (seh) Net income $2,850,0001,470,0001,380,060610,000770,00028,800741,200222,360$518,84 1. Working capltal 2. Current ratio. Note: Round your answer to 1 declmal place. 3. Acid-test ratio. Note: Round your answer to 2 decimal places. 4. Debt-10-equity ratio Note: Round your answer to 2 decimal places. 5. Times interest earned ratio. Note: Round your answer to 2 decinal places. 6. Average collection period. Note: Use 365 clays in a year. Round your intermedi 7. Average sale perlod. Note: Use 365 days in a year. Round your intermediate calc 8. Operating cycle Note: Use 365 days in a year. Round your inzermeclate calc