The financial statements for Castile Products, Incorporated are given below: Castile Products, Incorporated Balance Sheet Assets Current assets: Cash December 31 $ 23,000 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, 10% Total liabilities Stockholders' equity: Common stock, $5 per value Retained earnings Total stockholders' equity Total liabilities and stockholders' equity Sales Castile Products, Incorporated Income Statement For the Year Ended December 31 Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income 210,000 340,000 10,000 583,000 880,000 $ 1,463,000 $ 240,000 340,000 580,000 $ 160,000 723,000 883,000 $ 1,463,000 $ 2,100,000 1,210,000 890,000 570,000 320,000 34,000 286,000 85,800 $ 200,200 Account balances at the beginning of the year were: accounts receivable, $140,000; and inventory, $260,000. All sales were on account. Assets at the beginning of the year totaled $1,080,000, and the stockholders' equity totaled $705,000. 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 % % % %