The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 18,000 Accounts receivable, net 200,000 Merchandise inventory 310,000 Prepaid expenses 11,000 Total current assets 539,000 Property and equipment, net 880,000 Total assets $ 1,419,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 210,000 Bonds payable, 11% 390,000 Total liabilities 600,000 Stockholders equity: Common stock, $5 par value $ 170,000 Retained earnings 649,000 Total stockholders equity 819,000 Total liabilities and stockholders equity $ 1,419,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $ 3,120,000 Cost of goods sold 1,155,000 Gross margin 1,965,000 Selling and administrative expenses 640,000 Net operating income 1,325,000 Interest expense 42,900 Net income before taxes 1,282,100 Income taxes (30%) 384,630 Net income $ 897,470 Account balances at the beginning of the year were: accounts receivable, $190,000; and inventory, $350,000. 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.)