The financial statements for Castile Products, Incorporated are given below:

Castile Products, Incorporated Balance Sheet December 31
Assets
Current assets:
Cash	$ 21,000
Accounts receivable, net	200,000
Merchandise inventory	380,000
Prepaid expenses	8,000
Total current assets	609,000
Property and equipment, net	890,000
Total assets	$ 1,499,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities	$ 240,000
Bonds payable, 9%	400,000
Total liabilities	640,000
Stockholders equity:
Common stock, $5 per value	$ 150,000
Retained earnings	709,000
Total stockholders equity	859,000
Total liabilities and stockholders equity	$ 1,499,000

Castile Products, Incorporated Income Statement For the Year Ended December 31
Sales	$ 2,775,000
Cost of goods sold	1,312,000
Gross margin	1,463,000
Selling and administrative expenses	660,000
Net operating income	803,000
Interest expense	36,000
Net income before taxes	767,000
Income taxes (30%)	230,100
Net income	$ 536,900

Account balances at the beginning of the year were: accounts receivable, $170,000; and inventory, $260,000. 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. Operating cycle. (Use 365 days in a year. Round your intermediate calculations and final answer to 1 decimal place.)

\begin{tabular}{|c|c|} \hline 1. Working capital & \\ \hline 2. Current ratio & \\ \hline 3. Acid-test ratio & \\ \hline 4. Debt-to-equity ratio & \\ \hline 5. Times interest earned ratio & \\ \hline 6. Average collection period & days \\ \hline 7. Average sale period & days \\ \hline 8. Operating cycle & days \\ \hline \end{tabular}