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The financial statements for Castile Products, Incorporated, are given below: Account balances at the beginning of the year were: accounts receivable, $240,000, and inventory, $310,000.

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The financial statements for Castile Products, Incorporated, are given below: Account balances at the beginning of the year were: accounts receivable, $240,000, and inventory, $310,000. All sales were on account. Required: Compute the following financial data and ratios: 1. Working capitat. 2. Current ratio. Note: Round your answer to 1 decimal place. 3. Acld-test ratio Note: Round your answer to 2 decimal places. 4. Debt-to-equity ratio. Note: Pound your answer to 2 decimal places. 5. Times interest earned retio. 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 Averege sofe period. Note: Use 365 days in a year, Round your intermedlate 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

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