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 220,000 Merchandise inventory 320,000 Prepaid expenses 8,000 Total current assets 569,000 Property and equipment, net 860,000 Total assets $ 1,429,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 280,000 Bonds payable, 9% 390,000 Total liabilities 670,000 Stockholders equity: Common stock, $10 par value $ 110,000 Retained earnings 649,000 Total stockholders equity 759,000 Total liabilities and equity $ 1,429,000

Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $ 3,010,000 Cost of goods sold 1,110,000 Gross margin 1,900,000 Selling and administrative expenses 640,000 Net operating income 1,260,000 Interest expense 35,100 Net income before taxes 1,224,900 Income taxes (30%) 367,470 Net income $ 857,430 Account balances at the beginning of the year were: accounts receivable, $210,000; and inventory, $280,000. All sales were on account.

Required: Compute the following financial data and ratios: 1. Working capital. 2. Current Ratio (round to 2 decimal places) 3. Acid-Test Ratio (round to 2 decimal places) 4.Debt-to-equity Ratio (round to 2 decimal places) 5. Times interest earned Ratio (2 decimal places) 6. Average collection period (days) 7.Average sale period (days) 8. Operating cycle (Days; round intermediate calculations and final answer to 1 decimal place)