The financial statements for Castile Products, Inc., are given below: Castile Products, Inc Balance Sheet December 31 Assets Current assets: Cash $ 19,000 230,000 330,000 8,000 587,000 810,000 $1,397,000 Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 270,000 360,000 630,000 Bonds payable, 108 Total liabilities Stockholders' equity: $ 140,000 627,000 767,000 Total liabilities and stockholders' eqity $1,397,000 Common stock, Retained earnings $10 par value Total stockholders' equity Castile Products, Inc. Income Statement For the Year Ended December 31 3,740,000 1,452,000 2,288,000 630,000 1,658,000 36,000 1,622,000 486,600 $1,135,400 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (308) Net income Account balances at the beginning of the year were: accounts receivable, $210,000; 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 ratico 6. Average collection period 7. Average sale period 8. Operating cycle days days days