The financial statements for Castile Products, Inc., are given below 008 2020 Castile Products, Inc. Balance sheet December 1 Assets Current assets Cash $ 24.ee Accounts receivable, net 250,00 Merchandise Inventory 340, eee Prepaid expenses 6,eee Total current assets 620, eee Property and equipment, net 810, eee Total assets 51,430, eee Liabilities and stockholders' Equity Liabilities: Current liabilities 529e, eee Bonds payable, 11% 4eg, eee Total liabilities 690, eee Stockholders' equity: Common stock, sie par value S 15e,e Retained earnings 590, eee Total stockholders' equity 740,000 Total liabilities and stockholders $1,438, Bee equity Drence castile products, Inc. Income statement For the Year Ended December 31 Sales $4,465,000 Cost of goods sold 1,137, see Gross margin 3,327, see Selling and administrative expenses 638, eee Net operating income 2,697,500 Interest expense 44,000 Net income before taxes 2,653, see Income taxes (30%) 796, ese Net income $1,857,450 Account balances at the beginning of the year were accounts receivable. $220,000, and inventory, $310,000. 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.)