The financial statements for Castile Products, Incorporated, are given below: Castile Products, Incorporated 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, 12% Total liabilities Stockholders' equity: Common stock, $10 par value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Castile Products, Incorporated Income Statement $ 23,000 230,000 360,000 10,000 623,000 830,000 $ 1,453,000 $ 270,000 370,000 640,000 $ 130,000 683,000 813,000 $ 1,453,000 For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $ 4,400,000 1,312,000 3,088,000 560,000 2,528,000 44,400 2,483,600 745,080 $ 1,738,520 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. Note: Round your answer to 1 decimal place. 3. Acid-test ratio. Note: Round your answer to 2 decimal places. 4. Debt-to-equity ratio. Note: Round your answer to 2 decimal places. 5. Times interest earned ratio. Note: Round your answer to 2 decimal places. 6. Average collection period. Note: Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place. 7. Average sale period. Note: Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place. 8. Operating cycle. Note: Use 365 days in a year. 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 7. Average sale period 8. Operating cycle days days days