EXERCISE 15-8 Selected Financial Ratios (L015-2, LO15-3, LO15-4] The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 6,500 35,000 70,000 3,500 ...115,000 185,000 $300,000 Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net.... Total assets Liabilities and Stockholders' Equity Liabilities: Total liabilities . 130,000 Stockholders' equity: Common stock, $5 per value $ 30,000 ....140,000 Total stockholders' equity 170,000 $300,000