The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: $ 23,000 200,000 310,000 10,000 Cash Accounts receivable, net Merchandise inventory Prepaid expenses 543,000 850,000 Total current assets Property and equipment, net $1,393,000 Total assets Liabilities and Stockholders' Equity Liabilities $ 250,000 Current liabilities Bonds payable, 11% 330,000 580,000 $ 200,000 Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings 613,000 813,000 $1,393,000 Total stockholders' equity Total liabilities and equity Castile Products, Inc. Income Statement For the Year Ended December 31 $3,010,000 1,131,000 Sales Cost of goods sold 1,879,000 560,000 Gross margin Selling and administrative expenses 1,319,000 36,300 Net operating income Interest expense 1,282,700 384,810 Net income before taxes Income taxes (30%) S 897,890 Net income Account balances at the beginning of the year were: accounts receivable, $230,000; and inventory, $270,000. All sales were on account. Required Compute the following financial data and ratios: Working capital. Working capital 2. Current ratio. (Round your answer to 2 decimal places.) Current ratio 3. Acid-test ratio. (Round your answer to 2 decimal places.) Acid-test ratio 4. Debt-to-equity ratio. (Round your answer to 2 decimal places.) Debt-to-equity ratio 5. Times interest earned ratio. (Round your answer to 2 decimal places.) Times interest earned ratio 6. Average collection period. (Use 365 days in a year. Round your answer to 1 decimal place.) days Average collection period 7. Average sale period. (Use 365 days in a year. Round your intermediate and final answer to 1 decimal place.) days Average sale period 8. Operating cycle. (Round your intermediate calculations and final answers to 1 decimal place.) Operating cycle days