CHW 4 Selected data from Fanning Company follow: 10 points Balance Sheets As of December 31 Accounts receivable Year 3 $405,000 Year 2 $370,000 Allowance for doubtful accounts (20,250) (14,800) eBook Net accounts receivable $384,750 $355,200 Inventories, lower of cost or market $480,500 $450,000 Hint Net credit sales Net cash sales Print Net sales Income Statement For the Years Ended December 31 Year 3 $2,008,000 408,000 2,416,000 Year 2 $1,750,000 320,000 Cost of goods sold Selling, general, and administrative expenses References Other expenses Total operating expenses 2,070,000 1,600,000 1,424,000 239,100 40,100 214,500 $1,879,200 22,300 $1,660,800 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 times b. Inventory turnover c.Net margin %