The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 23,000 Accounts receivable, net 200,000 Merchandise inventory 380,000 Prepaid expenses 9,000 Total current assets 612,000 Property and equipment, net 890,000 Total assets $1,502,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 210,000 Bonds payable, 10% 360,000 Total liabilities 570,000 Stockholders equity: Common stock, $5 par value $ 100,000 Retained earnings 832,000 Total stockholders' equity 932,000 Total liabilities and stockholders' equity $1,502,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2, 100,000 Cost of goods sold 1, 180,000 Gross margin 920,000 Selling and administrative expenses 570,000 Net operating income 350,000 Interest expense 36,000 Net income before taxes 314,000 Income taxes (30%) 94,200 Net income 5 219,800 Account balances at the beginning of the year were: accounts receivable, $240,000; and inventory, $340,000. All sales were on account. Assets at the beginning of the year totaled $1,080,000, and the stockholders equity totaled $665,000.Required: Compute the following: 1. Gross margin percentage. {Round your percentage answer to 2 decimal places [i.e.. 0.1234 should be entered as 1234].] 2. Net prot margin percentage. [Round your answer to the nearest whole percentage place {i.e., 11.1234 should be entered as 12%}.] 3. Return on total assets. [Round your percentage answer to 1 decimal place (Le... [1.1234 should he entered as 12.3\" 4. Return on equity. [Round your percentage answer to 1 decimal place {i.e., H.123! should be entered as 12.31.] 5. l|."'I.I'as nancial ieverage positive or negative for the year? 0 Positive 0 Negative