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

Castile Products, Inc. Balance Sheet December 31
Assets
Current assets:
Cash	$	22,000
Accounts receivable, net		220,000
Merchandise inventory		300,000
Prepaid expenses		9,000
Total current assets		551,000
Property and equipment, net		870,000
Total assets	$	1,421,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities	$	290,000
Bonds payable, 8%		380,000
Total liabilities		670,000
Stockholders equity:
Common stock, $5 par value	$	140,000
Retained earnings		611,000
Total stockholders equity		751,000
Total liabilities and stockholders equity	$	1,421,000

Castile Products, Inc. Income Statement For the Year Ended December 31
Sales	$	2,660,000
Cost of goods sold		1,044,000
Gross margin		1,616,000
Selling and administrative expenses		600,000
Net operating income		1,016,000
Interest expense		30,400
Net income before taxes		985,600
Income taxes (30%)		295,680
Net income	$	689,920

Account balances at the beginning of the year were: accounts receivable, $160,000; and inventory, $280,000. 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.)