The financial statements for Castile Products, Inc., are given below:

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The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. 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, 8% Total liabilities Stockholders' equity: Common stock, $10 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 22,000 230,000 360,000 6,000 618,000 870,000 $1,488,000 $ 290,000 360,000 650,000 $ 150,000 688,000 838,000 $1,488,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $3,600,000 Cost of goods sold 1,380,000 Gross margin 2,220,000 Selling and administrative expenses 590,000 Net operating income 1,630,000 Interest expense 28,800 Net income before taxes 1,601,200 Income taxes (30%) 480,360 Net income $1,120,840 Account balances at the beginning of the year were: accounts receivable, $170,000; and inventory, $330,000. All sales were on account. Required: Compute the following financial data and ratios: Account balances at the beginning of the year were: accounts receivable, $170,000; and inventory, $330,000. All sales were on account. Required: Compute the following financial data and ratios: 1. Working capital. 2. Current ratio. (Round your answer to 1 decimal place.) 3. Acid-test ratio. (Round your answer to 2 decimal places.) 4. Debt-to-equity ratio. (Round your answer to 2 decimal places.) 5. Times interest earned ratio. (Round your answer to 2 decimal places.) 6. Average collection period. (Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) 7. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) 8. Operating cycle. (Round your intermediate calculations and final answer to 1 decimal place.) 1. Working capital 2. Current ratio 3. Acid-test ratio 4. Debt-to-equity ratio 5. Times interest earned ratio 6. Average collection period 7. Average sale period 8. Operating cycle days days days