The financial statements for Castile Products, Inc., are given below: 1. Gross margin percentage. (Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) Gross margin percentage Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 24,000 200.000 300,000 10,000 Total current assets Property and equipment, net 534,000 900,000 2. Net profit margin percentage. (Round your answer to the nearest whole percentage place (i... 0.1234 should be entered as 12%).) Total assets $1,434,000 Net profit margin percentage Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 11% $ 230,000 350,000 580,000 Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings $ 120,000 734,000 3. Return on total assets. (Round your percentage answer to 1 decimal place (i.e., 0.1234 should be entered as 12.3).) Tolal stockholders' equity 854,000 Total liabilities and stockholders' equity $1,434,000 Return on total assets Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2,140,000 Cost of goods sold 1,230,000 4. Return on equity. (Round your percentage answer to 1 decimal place i.e., 0.1234 should be entered as 12.3).) Gross margin Selling and administrative expenses 910.000 620,000 Return on equity % 290,000 Net operating income Interest expense 38,500 Net income before taxes Income taxes (30%) 251,500 75,450 Net income $ 176,050 5. Was financial leverage positive or negative for the year? Positive Negative Account balances at the beginning of the year were: accounts receivable, $230,000; and inventory $340,000. All sales were on account. Assets at the beginning of the year totaled $1,060,000, and the stockholders' equity totaled $715,000