The financial statements for Castile Products, Inc., are given below: un Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandige 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 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity 21,000 240,000 320,000 7,000 588,000 890,000 $1,478,000 $ 250,000 400,000 650,000 $ 180,000 648,000 828,000 $1,478,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales 53,150,000 Coat of goods sold 1,180,000 Gross margin 1,970,000 Selling and administrative expenses 610,000 liet operating income 1360,000 Interest expense 44,000 Met income before taxes 1,326,000 Income taxes (301) 394,800 Net Income 921,200 Account balances at the beginning of the year were accounts receivable, $180,000; and inventory, $270,000. All sales were on Occount Required: Compute the following financial dota 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. (Round your intermediate calculations and final answer to 1 decimal place.)