Exercise 15-9 Financial Ratios for Assessing Profitability and Managing Debt [LO15-4, LO15-5] The financial statements for Castile Products, Inc., are given below: 1.11 points Castile Products, Inc. Balance Sheet December 31 Assets Current assets: 03:33:05 Cash $23,000 230,000 320,000 10,000 583,000 830,000 $1,413,000 Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equit Liabilities: References Current liabilities Bonds payable, 12% Total liabilities Stockholders equity: $ 280,000 310,000 590,000 $ 130,000 693,000 823,000 $1,413,000 Common stock, $5 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity