10 points Selected data from Emporia Company follow, Balance Sheets An of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lover of cost or market Year 3 $600,000 (40,000) $560,000 $500,000 Year 2 $480,000 (20,000) $460,000 $400,000 Income Statement Tor the Years Ended December 31 Yer 3 Net credit sales $2,400,000 Net cash sales 600,000 Net sales 3,000,000 Coat of goods sold 1,000,000 Selling, general, and administrative expennes 300,000 Other expenses 80,000 Total operating expenses 02.180,000 Year 2 $1,950,000 450,000 2,400,000 1,520,000 240.000 50,000 $1,810,000 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 times 3 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 $600,000 (40,000) $560,000 $500,000 Year 2 $480,000 (20,000) $460,000 $400,000 10 points Income Statement For the Year Ended December 31 Year 3 Net credit sales $2,400,000 Net cash sales 600,000 Net sales 3,000,000 Cost of goods sold 1,800,000 Selling, general, and administrative expenses 300,000 Other expenses 80,000 Total operating expenses $2,100,000 Year 2 $1,950,000 450,000 2,400,000 1,520,000 240,000 50,000 $1,810,000 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 tumover b. Inventory turnover Net margin times times %