The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: 18,000 200,000 400,000 6,000 624,000 900,000 Cash Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets Property and equipment, net $1,524,000 Total assets Liabilities and Stockholders' Equity Liabilities: 260,000 320,000 580,000 Current liabilities $ Bonds payable, 10% Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings Total stockholders' equity $ 130,000 814,000 944,000 $1,524,000 Total liabilities and stockholders' equity Castile Products, Inc. Tncome Statement For the Year Ended December 31 Sales $3,225,000 1,584,000 1,641,000 620,000 1,021,000 Cost of goods sold Gross marqin Selling and administrative expenses Net operating income Interest expense Net income before taxes 32,000 989,000 296,700 Income taxes (30%) $ 692,300 Net income Account balances at the beginning of the year were: accounts receivable, $230,000; and inventory, $320,00O. 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..Oneratina.cvcle..(Raund.vaur.intermediate.calsulations and final.answer.ta.1.decimal.place.)