The financlal statements for Castile Products, Inc., are given below Castile Products, Inc. Balance 3heet December 31 Assets Current assets: Cash 24,000 Accounts receivable, net Merchandise inventory Prepaid expenses Total current assets 190,000 320,000 7,000 541, 000 850,000 Property and equipment, net Total assets $1,291,000 Linbilities and Stoekholders Equity Liabilities: Current 1iabilities Bonds payable, 10% Total 1iabilities ssockholders equity: Common ssak $10 per value s 300,000 aao,000 eao,000 $160.000 Retained earnings 601, 000 761,00g total ssoekholders equity Total liabilieses and tockholders equisy 1.392,000 Cansile Produets, Ina. Indome tatement ree bhe tear Ended Decembere 31 sa,400,000 1,408,000 1992,000 500,000 ,4,000 22,000 alen Coss of qgoods old GEoss magin telling and admani abave xpense Mes operasing inme Inseress pense Hes indome before a Znaeme t axe 1304 i,an9,000 413,700 ses,900 Account balances at the beglinning of the year were: accounts receivable, $210,000, and inventory, $320,000. All sales were on account Required: Compute the following financial data and ratios: 1. Working capital 2. Current ratio. (Round your answer to 1 declmal place.) 3. Acid-test ratio. (Round your answer to 2 decimal places.) 4. Debt-to-equlty ratio. (Round your answer to 2 declmal places.) 5. Times Interest earned ratio. (Round your answer to 2 decimal places.) 6. Average collection perlod. (Use 365 days In a year. Round your Intermedlate calculetions and final answer to 1 decimal place- 7. Average sale perlod. (Use 365 days In e year. Round your Intermedlete calculations and final answer to 1 decimal place.) 8. Operating cycle. (Round your Intermedlate calculations and final answer to 1 decimal place.) 1Working capitali 2 Current ratio 3 Acid-test ratio 4 Debt-to-equity ratio 5 Times interest earmed ratio e Average ocllection period 7 Average sale period 8 Opersting oyde days days days