The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet Assets Current assets: Cash December 31 Accounts receivable, net. Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 9% Total liabilities Stockholders' equity: Common stock, $5 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 18,000 250,000 330,000 6,000 604,000 820,000 $1,424,000 $ 300,000 320,000 620,000 $ 180,000 624,000 804,000 $1,424,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense $3,920,000 1,474,000 2,446,000 580,000 1,866,000 28,800 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income. Interest expense Net income before taxes Income taxes (30%) Net income $3,920,000 1,474,000 2,446,000 580,000 1,866,000 28,800 1,837,200 551,160 $1,286,040 Account balances at the beginning of the year were: accounts receivable, $240,000; and inventory, $340,000. 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 Aristest ratin $ 288,000 2.0 naal