Selected data from Magnolia Company follow.

Required
Compute the following.
a. The accounts receivable turnover for 2012.
b. The inventory turnover for 2012.
c. The net margin for2011.

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Balance Sheet Data As of December 31 2012 2011 Accounts receivable $640,000 (32,000) $600,000 (28,000) Allowance for doubtful accounts Net accounts receivable S608,000 $572,000 Inventories, lower of cost or market $400,000 $420,000 Income Statement Data Year Ended December 31 2012 2011 Net credit sales $3,600,000 $5,000,000 1,000,000 Net cash sales 800,000 Net sales $6,000,000 $4,400,000 Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses $3,500,000 600,000 300,000 $4,400,000 $2,600,000 320,000 240,000 $3,160,000