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, 9 Total liabilities Stockholders' equity: Common stock, 65 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 23,000 250,000 390,000 8,000 671,000 880,000 $1,551,000 $ 290,000 360,000 650,000 $ 170,000 731,000 901,000 $1,551,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2,270.000 Cost of goods sold 1,180,000 Gross margin 1,090,000 Selling and administrative expenses 600,000 llet operating income 490,000 Interest expense 32,400 Net income before taxes 457600 Income taxes (309) 137,280 Net income 320, 320 Account balances at the beginning of the year were accounts receivable, $230,000; and inventory, $270.000. All sales were on account. Assets at the beginning of the year totaled $1,090,000, and the stockholders' equity totaled S635,000 Required: Compute the following: (For Requirements 1 to 4, enter your percentage answers rounded to 2 decimal places le, 01234 should be entered as 12.34).) 1 Gross margin percentage 2. Net profit margin percentage: 3. Return on total assets 4. Return on equity 5. Was financial leverage positive or negative for the year