The financial statements for Castile Products, Incorporated are given below: Castile Products, Incorporated Balance Sheet December 31 Assets Current assets: Cash 5 19,666 Accounts receivable, net 226,666 Merchandise inventory 366,666 Prepaid expenses 16,666 Total current assets 629,666 Property and equipment, net 666,666 Total assets $ 114395.33 Liabilities and Stockholders' Equity Liabilities: Current liabilities S 2?6,666 Bonds payable, 11% 3395535 Total liabilities 656,666 Stockholders" equity: Common stock, $16 per value $ 166,666 Retained earnings 659,666 Total stockholders' equity 639,666 Total liabilities and stockholders' equity $ 114393339 Castile Products, Incorporated Income Statement For the Year Ended December 31 Sales $ 2,2?6,666 Cost of goods sold 1,236,666 Gross margin 1,646,666 Selling and administrative expenses 666,666 Net operating income 446,666 Interest expense 41,866 Net income before taxes 398, 266 Income taxes (36%) 119,466 Net income $ 2?83?46 Account balances at the beginning ofthe year were: accounts receivable, $220,600; and inventory, $266,066.15.\" sales were on account. Assets at the beginning ofthe year totaled $1,616,666. and the stockholders' equity totaled $645,666. Castile Products, Incorporated Income Statement For the Year Ended December 31 Sales $ 2,2?6,666 Cost of goods sold 1,236,666 Gross margin 1,646,666 Selling and administrative expenses 599,599 Net operating income 446,666 Interest expense 41,866 Net income before taxes 398,266 Income taxes (36%) 119,466 Net income $ 2?3:743 Account balances at the beginning of the year were: accounts receivable. $220,000; and inventory. $260,000. All sales were on account. Assets atthe beginning ofthe year totaled $1,010,000, and the stockholders' equity totaled $645,000. Required: Compute the following: {For Requirements 1 to 4, enter your percentage answers rounded to 2 decimal places li.e., 0.1234 should be entered as 1234].} 1. Gross margin percentage. 2. Net profit margin percentage. 3. Return on total assets. 4. Return on equ'rty. 5. Was financial leverage positive or negative for the year? 1. Gross margin percentage 2. Net prot margin percentage 3. Return on total assets 4. Return on equity 5. Financial Leverage 12.28 % 3T5? 45.31 % 5% ' o silive