The financial statements for Castile Products, Incorporated, are given below: The financial statements for Castile Products, Incorporated, are given below: Account balances at the beginning of the year were: accounts receivable, $25,000; and inventory, $60,000. 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 rotio. (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 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.)
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