The financial statements for Castile Products, Inc., are given below:

Castile Products, Inc. Balance Sheet December 31
Assets
Current assets:
Cash	$	19,000
Accounts receivable, net		200,000
Merchandise inventory		390,000
Prepaid expenses		7,000
Total current assets		616,000
Property and equipment, net		810,000
Total assets	$	1,426,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities	$	280,000
Bonds payable, 11%		340,000
Total liabilities		620,000
Stockholders equity:
Common stock, $5 par value	$	180,000
Retained earnings		626,000
Total stockholders equity		806,000
Total liabilities and stockholders equity	$	1,426,000

Castile Products, Inc. Income Statement For the Year Ended December 31
Sales	$	2,880,000
Cost of goods sold		1,462,000
Gross margin		1,418,000
Selling and administrative expenses		660,000
Net operating income		758,000
Interest expense		37,400
Net income before taxes		720,600
Income taxes (30%)		216,180
Net income	$	504,420

Account balances at the beginning of the year were: accounts receivable, $160,000; and inventory, $290,000. All sales were on account.

Required:

Compute the following financial data 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.)

1	working capital
2	current ratio
3	acid test ratio
4	debt-to-equity ratio
5	times interest earned ratio
6	average collection period		days
7	average sale period		days
8	operation cycle		days