The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash 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, 98 Total liabilities. Stockholders' equity: Common stock, $5 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 24,000 180,000 380,000 9,000 593,000 870,000 $1,463,000 $ 290,000 400,000 690,000 $ 150,000 623,000 773,000 $1,463,000 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 $2,720,000 1,512,000 1,208,000 580,000 628,000 36,000 Interest expense Net incone before taxes Income taxes (308) Net incone 36,000 592,000 177,600 $414,400 100 Check my wor Account balances at the beginning of the year were: accounts receivable, $160,000; 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. (Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.) ADALGU-25 Y; 1 hr and 14 m mins left IDALGO-25 Y; 6 HRS AND 3 SDAY: 2;47- Y: 40 MINS WHITE-20 1. Working capital 2. Current ratio 3. Acid-test ratio 4. Debt-to-equity ratio 15. Times interest eamed ratio: Macbook Air decimal place.) 365 days in a year. Round your intermediate calculations and 7. Average sale period. (Use 365 days in a year. Round your intermediate calculations and final decimal place.) 8. Operating cycle. (Use 365 days in a year. Round your intermediate calculations and final answ place.) 1. Working capital 2. Current ratio 3. Acid-test ratio 4. Debt-to-equity ratio 5. Times interest earned ratio 6. Average collection period 7. Average sale period 8. Operating cycle days days days