8-Module 4 Textbook X ezto.mheducation.com/ext/map/index.html?_con-con&external browser-08launchUrl=https%253A%252F%252Flms.mheducation.com Module 4 Textbook Problems i Saved 00 8 1 points Skipped Hint Print .4-4 Calculate ratios for assessing a company's managerial effectiveness Selected data from Solomon Company follow Balance Sheets As of December 31 Year 3 Accounts receivable Allowance for doubtful accounts Net accounts receivable $396,000 Year 2 $379,000 (19,800) (15,160) $376,200 $363,840 Inventories, lower of cost or market $477,500 $444,000 Income Statement Net credit sales Net cash sales Net sales For the Years Ended December 31. Year 3 $2,016,000 418,000 2,434,000 Year 2 $1,754,000 304,000 2,050,000 Cost of goods sold Selling, general, and administrative expenses 1,606,000 Other expenses Total operating expenses 1,430,000 241,000 40,300 $1,887,300 215,900 22,500 $1,668,200 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.) Accounts receivable turnover Module 4 Textbook Problems =0&launchUrl=https%253A%252F%252Flms.mheducation.com Smed 8 Net accounts receivable $376,200 $363,840 Inventories, lower of cost or market $477,500 $444,000 1 points Net credit sales Skipped Net cash sales Income Statement For the Years Ended December 31 Year 3 $2,016,000 Year 2 $1,754,000 304,000 418,000 Net sales 2,434,000 2,058,000 Cost of goods sold 1,606,000 1,430,000 Hint Selling, general, and administrative expenses 241,000 215,900 Other expenses 40,300 22,300 Print Total operating expenses $1,887,300 $1,668,200 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.) Accounts receivable turnover times b Inventory turnover times c. Net margin % Module 4 Textbook Problems i 8 .4-4 Calculate ratios for assessing a company's managerial effectiveness Selected data from Solomon Company follow: Balance Sheets As of December 31 points Skipped Hint Print Year 3 Year 2 Accounts receivable Allowance for doubtful accounts Net accounts receivable $396,000 $379,000 (19,800) (15,160) $376,200 $363,840 Inventories, lower of cost or market $477,500 $444,000 Saved Net credit sales Net cash sales Income Statement For the Years Ended December 31 Year 3 $2,016,000 Year 2 $1,754,000 304,000 418,000 Net sales 2,434,000 2,058,000 Cost of goods sold 1,606,000 1,430,000 Selling, general, and administrative expenses 241,000 215,900 Other expenses 40,300 22,300 Total operating expenses $1,887,300 $1,668,200 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.) 8 00 points Problems i Net accounts receivable $376,200 $363,840 Inventories, lower of cost or market $477,500 $444,000 Income Statement For the Years Ended December 31 Saved F%252Flms.mh Net credit sales Skipped Year 3 $2,016,000 Net cash sales 418,000 Year 2 $1,754,000 304,000 Net sales 2,434,000 2,058,000 Cost of goods sold 1,606,000 1,430,000 Hint Selling, general, and administrative expenses 241,000 215,900 Other expenses 40,300 22,300 Print Total operating expenses $1,887,300 $1,668,200 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.) a Accounts receivable turnover b Inventory turnover cNet margin times fimes 96