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value: 5.00 points The financial statements for Castile Products, Inc., are given below: Castile Products, Inc. Balance Sheet December 31 Assets Current assets $ 6,500 35,000 70,000 3,500 Cash Accounts receivable, net Merchandise inventory Prepaid expenses 115,000 185,000 Total current assets Property and equipment, net Total assets Liabilities and StockholdersS' Equity $300,000 Liabilities Current liabilities Bonds payable, 10% $50,000 80,000 130,000 $ 30,000 Total liabilities Stockholders' equity: Common stock, $5 par value Retained earnings 140,000 170,000 $300,000 Total stockholders' equity Total liabilities and equity Castile Products, Inc. Income Statement For the Year Ended December 31 Sales Cost of goods sold $420,000 292,500 Gross margin Selling and administrative expenses 127,500 89,500 Net operating income Interest expense 38,000 8,000 Net income before taxes Income taxes (30%) 30,000 9,000 Net income $21,000 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