The financial statements for Castile Products, Inc. are given below: Castle 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 $ 6.500 35.000 70.000 3.500 115.000 185.000 $300.000 Liabilities and Stockholders' Equity Liabilities Current liabilities $50,000 Bonds payable, 10% 80.000 Total liabilities 130.000 Stockholders' equity Common stock. $5 per value 30 DOO Retained earnings 140.000 Total stockholders' equity 170,000 Total Habilities and stockholders' equity $300.000 Castie Products, Inc. Income Statement For the Year Ended December 31 Sales $420,000 Cost of goods sold 292,500 Gross margin 127.500 Seling and administrative expenses 89.500 Net operating income 38,000 Interest expense 8.000 Net Income before taxes 30.000 Income taxes (30% 9,000 Net income $ 21.000 Account balances at the beginning of the year were: Accounts Receivable - $25,000 Inventory - $60,000 All sales were on account. 6,000 shares of common stock were outstanding all year. Compute the following financial data and ratios: 1. Working capital 2. Current ratio 3. Average collection period 4. Average sales period 5. Gross margin percentage 6. Earnings per share