Selected data from Magnolia Company follow.

Required
Compute the following.
a. The accounts receivable turnover for 2012.
b. The inventory turnover for 2012.
c. The net margin for2011.

Balance Sheet Data As of December 31 2012 2011 Accounts receivable $640,000 (32,000) $600,000 (28,000) Allowance for doubtful accounts Net accounts receivable S608,000 $572,000 Inventories, lower of cost or market $400,000 $420,000 Income Statement Data Year Ended December 31 2012 2011 Net credit sales $3,600,000 $5,000,000 1,000,000 Net cash sales 800,000 Net sales $6,000,000 $4,400,000 Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses $3,500,000 600,000 300,000 $4,400,000 $2,600,000 320,000 240,000 $3,160,000