S Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable...

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S Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 $393,000 Year 2 $371,000 (19,650) (14,840) $373,350 $356,160 $480,500 $441,000 Income Statement For the Years Ended December 31 Year 3 Year 2 Net credit sales $2,010,000 Net cash sales 400,000 $1,755,000 313,000 Net sales 2,410,000 2,068,000 Cost of goods sold 1,602,000 1,420,000 Selling, general, and administrative expenses 239,500 214,800 Other expenses 40,300 22,300 Total operating expenses $1,881,800 $1,657,100 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. Accounts receivable turnover b. Inventory turnover c. Net margin times times % S Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 $393,000 Year 2 $371,000 (19,650) (14,840) $373,350 $356,160 $480,500 $441,000 Income Statement For the Years Ended December 31 Year 3 Year 2 Net credit sales $2,010,000 Net cash sales 400,000 $1,755,000 313,000 Net sales 2,410,000 2,068,000 Cost of goods sold 1,602,000 1,420,000 Selling, general, and administrative expenses 239,500 214,800 Other expenses 40,300 22,300 Total operating expenses $1,881,800 $1,657,100 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. Accounts receivable turnover b. Inventory turnover c. Net margin times times %