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

Castile Products, Inc. Balance Sheet December 31
Assets
Current assets:
Cash	$	23,000
Accounts receivable, net		200,000
Merchandise inventory		370,000
Prepaid expenses		7,000
Total current assets		600,000
Property and equipment, net		840,000
Total assets	$	1,440,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities	$	240,000
Bonds payable, 8%		380,000
Total liabilities		620,000
Stockholders equity:
Common stock, $5 par value	$	160,000
Retained earnings		660,000
Total stockholders equity		820,000
Total liabilities and stockholders equity	$	1,440,000

Castile Products, Inc. Income Statement For the Year Ended December 31
Sales	$	3,780,000
Cost of goods sold		1,597,500
Gross margin		2,182,500
Selling and administrative expenses		620,000
Net operating income		1,562,500
Interest expense		30,400
Net income before taxes		1,532,100
Income taxes (30%)		459,630
Net income	$	1,072,470

Account balances at the beginning of the year were: accounts receivable, $220,000; and inventory, $340,000. 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.	Operating cycle		days