Problem: Module 4 Textbook Problem 8 Learning Objectives: 4-2 Calculate ratios for assessing a company's liquidity 4-4 Calculate ratios for assessing a company's managerial effectiveness Selected data from Munoz Company follow: Balance Sheets As of December 31 Year 3 Accounts receivable $399,000 Allowance for doubtful (19,900) accounts Net accounts receivable $378,100 Inventories, lower of $483,000 cost or market Year 2 $376,000 (15,040) $360,960 $439,000 Income Statement For the Years Ended December 31 Year 3 Net credit sales $2,004,000 Net cash bales 403,000 Net sales 2, 407,000 Cost of goods sold 1,600,000 Selling, general, and administrative expenses 239,900 Other expenses 40,300 Total operating expenses $1,880, 200 Year 2 $1,757,000 320,000 2,077,000 1,430,000 214,200 22,900 $1,667, 100 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. times Accounts receivable turnover b. Inventory turnover c. Net margin times %