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	170,000
Merchandise inventory	340,000
Prepaid expenses	9,000
Total current assets	537,000
Property and equipment, net	860,000
Total assets	$ 1,397,000
Liabilities and Stockholders' Equity
Liabilities:
Current liabilities	$ 200,000
Bonds payable, 11%	380,000
Total liabilities	580,000
Stockholders equity:
Common stock, $10 par value	$ 100,000
Retained earnings	717,000
Total stockholders equity	817,000
Total liabilities and stockholders equity	$ 1,397,000

Castile Products, Incorporated Income Statement For the Year Ended December 31
Sales	$ 2,700,000
Cost of goods sold	1,220,000
Gross margin	1,480,000
Selling and administrative expenses	610,000
Net operating income	870,000
Interest expense	41,800
Net income before taxes	828,200
Income taxes (30%)	248,460
Net income	$ 579,740

Account balances at the beginning of the year were: accounts receivable, $190,000; and inventory, $270,000. 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.)

1. Working capital
2. Current ratio
3. Acid-test ratio
4. Debt-to-equity ratio
5. Times interest earned ratio
6. Average collection period		days
7. Average sale period		days
8. Operating cycle		days