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 250,000 Merchandise inventory 350,000 Prepaid expenses 9,000 Total current assets 628,000 Property and equipment, net 900,000 Total assets $1,528,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 230,000 Bonds payable, 103 310,000 Total liabilities 540,000 Stockholders' equity: Common stock, $10 per value $ 140,000 Retained earnings 848,000 Total stockholders' equity 988,000 Total liabilities and stockholders' equity $1,528,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $3,150,000 Cost of goods sold 1,344,000 Gross margin 1,806,000 Selling and administrative expenses 610,000 Net operating income 1,196,000 Interest expense 31,000 Net income before taxes 1,165,000 Income taxes (308) 349,500 Net income $ 815,500 Account balances at the beginning of the year were: accounts receivable, $200,000; 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 7. Average sale period 8. Operating cycle days days days