6.)

Selected data from Stuart Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 Year 2 $406,000 $378,000 (20,300) (15,120) $385,700 $362,880 $478,000 $434,000 Income Statement For the Years Ended December 31 Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses Year 3 $2,011,000 420,000 2,431,000 1,598,000 240,200 39,200 $1,877,400 Year 2 $1,754,000 318,000 2,072,000 1,434,000 215,400 22,600 $1,672,000 Required a. Compute the accounts receivable turnover for Year 3. b. Compute the inventory turnover for Year 3. c. Compute the net margin for Year 2. (For all requirements, round your answers to 2 decimal places.) & Answer is not complete. Income Statement For the Years Ended December 31 Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses Year 3 $2,011,000 420,000 2,431,000 1,598,000 240,200 39,200 $1,877,400 Year 2 $1,754,000 318,000 2,072,000 1,434,000 215,400 22,600 $1,672,000 Required a. Compute the accounts receivable turnover for Year 3. b. Compute the inventory turnover for Year 3. c. Compute the net margin for Year 2. (For all requirements, round your answers to 2 decimal places.) Answer is not complete. a 4.95 times b. Accounts receivable turnover Inventory turnover Net margin C times %