The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash. $ 6.500 Accounts receivable, net 35.000 Merchandise inventory.. 70.000 Prepaid expenses.. 3.500 Total current assets . 115.000 Property and equipment, net . 185.000 Total assets... $300.000 Liabilities and Stockholders' Equity Liabilities: Current liabilities . $ 50.000 Bonds payable, 10%.. 80.000 Total liabilities .. 130.000 Stockholders equity: Common stock, $5 par value 30.000 Retained earnings.... 140.000 Total stockholders equity....... 170.000 Total liabilities and stockholders' equity. $300.000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $420,000 Cost of goods sold. 292,500 Gross margin .. 127,500 Selling and administrative expenses . 89.500 Net operating income 38,000 Interest expense... 8.000 Net income before taxes. 30,000 Income taxes (30%) 9.000 Net income .. $ 21.000 Account balances at the beginning of the year were accounts receivable, $25,000; and inventory, $60,000. All sales were on account. Required: Compute the following financial data and ratios: 1. Working capital 5. Times interest earned ratio 2. Current ratio 6. Average collection period Acid-test ratio 7. Average sale period Debt-to-equity ratio 8. Operating cycle