Exerclse 16-9 (Algo) FInanclal Ratios for Assessing Profltabillty and Managing Debt [LO16-4, LO16-5] The financial statements for Castile Products, Incorporated, are given below: Account balances at the beginning of the year were: accounts receivable, $190,000; and inventory, $300,000. All sales were on account. Assets at the beginning of the year totaled $1,090,000, and the stockholders' equity totaled $655,000. Requlred: Compute the following: (For Requlrements 1 to 4 , enter your percentege answers rounded to 2 declmal pleces (l.e., 0.1234 should be entered as 12.34).) 1. 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