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

Castile Products, Incorporated

Balance Sheet

December $31$

Assets

Current assets:

Cash $ $18,000$

Accounts receivable, net $200,000$

Merchandise inventory $320,000$

Prepaid expenses $8,000$

Total current assets $546,000$

Property and equipment, net $860,000$

Total assets $ $1,406,000$

Liabilities and Stockholders' Equity

Liabilities:

Current liabilities $ $270,000$

Bonds payable, $11\%390,000$

Total liabilities $660,000$

Stockholders$$ equity:

Common stock, $$5$ par value $ $160,000$

Retained earnings $586,000$

Total stockholders$$ equity $746,000$

Total liabilities and stockholders$$ equity $ $1,406,000$

Castile Products, Incorporated

Income Statement

For the Year Ended December $31$

Sales $ $3,960,000$

Cost of goods sold $1,073,000$

Gross margin $2,887,000$

Selling and administrative expenses $650,000$

Net operating income $2,237,000$

Interest expense $42,900$

Net income before taxes $2,194,100$

Income taxes $(30\%)658,230$

Net income $ $1,535,870$

Account balances at the beginning of the year were: accounts receivable, $$240,000$; and inventory, $$260,000.$ All sales were on account.

Required:

Compute the following financial data and ratios:

Working capital.

Current ratio.

Note: Round your answer to $1$ decimal place.

Acid$-$test ratio.

Note: Round your answer to $2$ decimal places.

Debt$-$to$-$equity ratio.

Note: Round your answer to $2$ decimal places.

Times interest earned ratio.

Note: Round your answer to $2$ decimal places.

Average collection period.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $1$ decimal place.

Average sale period.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $1$ decimal place.

Operating cycle.

Note: Use $365$ days in a year. Round your intermediate calculations and final answer to $1$ decimal place.