The financial statements for Castile Products, Inc., are given below. ook Print Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net Total assets Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 11% Total liabilities Stockholders' equity: Common stock, $10 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 23,000 180,000 370,000 8,000 581,000 890,000 $1,471,000 $ 300,000 300,000 600,000 $ 140,000 731,000 871,000 $1,471,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense tiet income before taxes Income taxes (30%) Het income $2,150,000 1,230,000 920,000 590,000 330,000 33.000 297,000 89, 100 207.900 Net operating income Interest expense Net income before taxes Income taxes (30%) Net income 33,000 297.000 89,100 $ 207,900 Account balances at the beginning of the year were accounts receivable, $190,000; and inventory, $290,000. All sales were on account. Assets at the beginning of the year totaled $1,070,000, and the stockholders' equity totaled $685,000. Required: Compute the following: (For Requirements 1 to 4, enter your percentage answers rounded to 2 decimal places (i.e., 0.1234 should be entered as 12.34).) 1. Gross margin percentage. 2. Net profit margin percentage. 3. Return on total assets 4. Return on equity 5. Was financial leverage positive or negative for the year? 1. Gross margin percentage 2. Net profit margin percentage 3 Return on total assets 4. Return on equity 5. Financial Leverage