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

Castile Products, Inc. Balance Sheet December 31
Assets
Current assets:
Cash	$	21,000
Accounts receivable, net		180,000
Merchandise inventory		400,000
Prepaid expenses		9,000
Total current assets		610,000
Property and equipment, net		820,000
Total assets	$	1,430,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities	$	270,000
Bonds payable, 10%		320,000
Total liabilities		590,000
Stockholders equity:
Common stock, $10 par value	$	160,000
Retained earnings		680,000
Total stockholders equity		840,000
Total liabilities and stockholders equity	$	1,430,000

Castile Products, Inc. Income Statement For the Year Ended December 31
Sales	$	2,970,000
Cost of goods sold		1,260,000
Gross margin		1,710,000
Selling and administrative expenses		570,000
Net operating income		1,140,000
Interest expense		32,000
Net income before taxes		1,108,000
Income taxes (30%)		332,400
Net income	$	775,600

Account balances at the beginning of the year were: accounts receivable, $150,000; and inventory, $300,000. 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