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can i get an explanation please Selected data from Emporia Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net
can i get an explanation please
Selected data from Emporia Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market 2018 $600,000 (40,000) $560, eee $500,eee 2017 $480, eee (20, eee) $460,000 $400, eee Income Statement For the Years Ended December 31 2018 Net credit sales $2,400,000 Net cash sales 6ee, 200 Net sales 3,000, eee Cost of goods sold 1,800,000 Selling, general, and administrative expenses 3ee, eee Other expenses 80, eee Total operating expenses $2,180,000 2017 $1,950,000 450, eee 450 2,400, eee 1,520,000 240,000 50, eee $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. (For all requirements, round your answers to 2 decimal places.) a. Accounts receivable turnover Inventory turnover c. Net margin times times 6 Step by Step Solution
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