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, 11% Total liabilities Stockholders' equity: Common stock, $10 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 19,000 200,000 320,000 10,000 549,000 820,000 $1,369,000 $ 260,000 330,000 590,000 140,000 639,000 779,000 $1,369,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2,700,000 Cost of goods sold 1,268,500 Gross margin 1,431,500 Selling and administrative expenses 580.000 Net operating income 851,500 Interest expense 36,300 Net income before taxes 815,200 Income taxes (30%) 244,560 Net income 570,640 Account balances at the beginning of the year were: accounts receivable, $160,000; and inventory $270,000. All sales were on account. Required: Compute the following financial data and ratios: 1. Working capital Place 8. Operating cycle. (Round your intermediate calculations and final ans 1. Working capital 2. Current ratio 3. Acid-test ratio 14. Debt-to-equity ratio 5. Times interest earned ratio 6. Average collection period 7. Average sale period 8. Operating cycle days days days