accounts receivable turnover inventory turnover net margin

 

Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Balance Sheets As of December 31 Required Net credit sales. Net cash sales. Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses a. Accounts receivable turnover b. Inventory turnover c. Net margin Income Statement For the Years Ended December 31 Year 3 $ 391,000 (19,550) $ 371,450 $ 483,500 times times % Year 2 $ 371,000 (14,840) $ 356,160 $ 439,000 Year 3 $ 2,000,000 415,000 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. Note: For all requirements, round your answers to 2 decimal places. 2,415,000 1,608,000 240,200 39,600 $ 1,887,800 Year 2 $ 1,750,000 315,000 2,065,000 1,428,000 214,200 23, 200 $ 1,665,400