The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 20,000 Accounts receivable, net 230,000 Merchandise inventory 350,000 Prepaid expenses 11,000 Total current assets 611,000 Property and equipment, net 840,000 Total assets $ 1,451,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 250,000 Bonds payable, 8% 380,000 Total liabilities 630,000 Stockholders equity: Common stock, $10 per value $ 160,000 Retained earnings 661,000 Total stockholders equity 821,000 Total liabilities and stockholders equity $ 1,451,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $ 3,895,000 Cost of goods sold 1,386,000 Gross margin 2,509,000 Selling and administrative expenses 610,000 Net operating income 1,899,000 Interest expense 30,400 Net income before taxes 1,868,600 Income taxes (30%) 560,580 Net income $ 1,308,020 Account balances at the beginning of the year were: accounts receivable, $180,000; and inventory, $280,000. 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.)