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The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets: Cash $ 21,000 Accounts receivable, net 170,000 Merchandise inventory 390,000 Prepaid expenses 8,000 Total current assets 589,000 Property and equipment, net 900,000 Total assets $ 1,489,000 Liabilities and Stockholders' Equity Liabilities: Current liabilities $ 210,000 Bonds payable, 8% 350,000 Total liabilities 560,000 Stockholders equity: Common stock, $5 par value $ 190,000 Retained earnings 739,000 Total stockholders equity 929,000 Total liabilities and equity $ 1,489,000 Castile Products, Inc. Income Statement For the Year Ended December 31 Sales $ 2,380,000 Cost of goods sold 1,172,500 Gross margin 1,207,500 Selling and administrative expenses 610,000 Net operating income 597,500 Interest expense 28,000 Net income before taxes 569,500 Income taxes (30%) 170,850 Net income $ 398,650 Account balances at the beginning of the year were: accounts receivable, $170,000; and inventory, $280,000. All sales were on account. Required: Compute the following financial data and ratios: 1. Working capital. 2. Current ratio. (Round your answer to 2 decimal places.) 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 answer to 1 decimal place.) 7. Average sale period. (Use 365 days in a year. Round your intermediate and final answer to 1 decimal place.) 8. Operating cycle. (Round your intermediate calculations and final answers to 1 decimal place.)

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