The financial statements for Castile Products, Incorporated are given below. Castile Products, Incorporated Balance Sheet December 31 Assets Current assets: Cash $ 19,000 Accounts receivable, net 188,888 Merchandise inventory 330,00 Prepaid expenses 10.000 Total current assets 539,800 Property and equipment, net 890.000 Total assets $ 1,429,888 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 240,888 Bonds payable, 10% 360,880 Total liabilities 680,000 Stockholders' equity: Connon stock, $10 per value $ 120,000 Retained earnings 799,000 Total stockholders' equity 829,800 Total liabilities and stockholders' equity $ 1,429,000 Castile Products, Incorporated Income Statement For the Year Ended December 31 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Interest expense Net income before taxes Income taxes (30%) Net income $ 2,198,eee 1,238,eee 950.00 560.ee 390.800 36,eee 354,600 106, 200 $ 247,see Account balances at the beginning of the year were: accounts receivable. $210,000: and Inventory. $280.000. All sales were on account. Assets at the beginning of the year totaled $1.040.000, and the stockholders' equity totaled $665,000. Required: Compute the following: (For Requirements 1 to 4. enter your percentage answers rounded to 2 decimal places (Le., 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