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6 Selected data from Rooney Company follow: Balance Sheets As of December 31 Year 3 Accounts receivable $ 409,000 Allowance for doubtful accounts (20/450) Net
6 Selected data from Rooney Company follow: Balance Sheets As of December 31 Year 3 Accounts receivable $ 409,000 Allowance for doubtful accounts (20/450) Net accounts receivable $388,550 Inventories lower of cost or market $478.000 Year 2 $ 380,000 15, 200) $364,800 $438 000 Income Statement For the Years Ended December 31 Year Net credit sales S2014,000 Net cash sales 412000 Net sales 2431000 Cost of goods sold 1598 000 Selling, general and administrative expenses 240 800 Other expenses 39_1200 Total operating expenses S1878,000 Year 2 $1,753,000 313,000 2,066,000 1,436,000 214,600 23 200 $1,673,000 Required a. Compute the accounts recelvable turnover for Year 3. b. Compute the inventory turnover for Year3. c. Compute the net margin for Year 2. (For ll requirements, round your answers to 2 decimal places.) times Accounts receivable Lurnover blinventory turnover Net margin mes
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