Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable...

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Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable $600.000 $480,000 Allowance for doubtful accounts (40.000) (20,000) Net accounts receivable $500,000 $460,000 Inventories, lower of cost or market$500,000 $400,000 Income Statement for the Years Ended December 31 2018 2017 Net credit sales $2,400,000 $1,950,000 Net cash sales 800,000 450,000 Net sales 3,000,000 2,400,000 Cost of goods sold 1,800,000 1,520,000 Selling, general, and admin expenses 300.000 240,000 Other expenses 80,000 50,000 Total operating expenses $2,180,000 $1,810,000 Required a. Compute the accounts receivable turnover for 2018. b. Compute the inventory turnover for 2018. c. Compute the net margin for 2017. Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable $600.000 $480,000 Allowance for doubtful accounts (40.000) (20,000) Net accounts receivable $500,000 $460,000 Inventories, lower of cost or market$500,000 $400,000 Income Statement for the Years Ended December 31 2018 2017 Net credit sales $2,400,000 $1,950,000 Net cash sales 800,000 450,000 Net sales 3,000,000 2,400,000 Cost of goods sold 1,800,000 1,520,000 Selling, general, and admin expenses 300.000 240,000 Other expenses 80,000 50,000 Total operating expenses $2,180,000 $1,810,000 Required a. Compute the accounts receivable turnover for 2018. b. Compute the inventory turnover for 2018. c. Compute the net margin for 2017.

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