The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash Accounts receivable, net Merchandise inventory Prepaid expenses $ 22,000 250,000 390,000 11,000 Total current assets Property and equipment, net 673,000 850,000 Total assets $1.523,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities Bonds payable, 10% $ 240,000 370,000 610,000 Total liabilities Stockholders' equity Common stock, $5 par value Retained earnings $ 140,000 773.000 Total stockholders' equity 913,000 Total liabilities and equity $1,523,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $2.870,000 Cost of goods sold 1,260,000 1,610,000 Gross margin Selling and administrative expenses 600.000 Net operating income Interest expense 1,010,000 37,000 Net Income before taxes Income taxes (30%) 973,000 291,900 Net income $ 681,100 Account balances at the beginning of the year were: accounts receivable. $160,000: and Inventory, $310,000. All sales were on account. 1. Working capital Working capital 2. Current ratio. (Round your answer to 2 decimal places.) Current ratio 3. Acid-test ratio. (Round your answer to 2 decimal places.) Acid-test ratio 4. Debt-to-equity ratio. (Round your answer to 2 decimal places.) Debt-to-equity ratio 5. Times interest earned ratio. (Round your answer to 2 decimal places.) reamed ratio 6. Average collection period. (Use 365 days in a year. Round your answer to 1 decimal place) Age chien pod days 7. Average sale period. (Use 365 days in a year. Round your intermediate and final answer to 1 decimal place.) Average sale period days 8. Operating cycle. (Round your intermediate calculations and final answers to 1 decimal place.) Operating cycle days