Exercise 9-11 Accounts receivable turnover, inventory turnover, and net margin LO 9-2, 9-4 Selected data from Gibson Company follow: Balance Sheets As of December 31 2018 2017 Accounts receivable $ 404,000 $ 370,000 Allowance for doubtful accounts (20,200 ) (14,800 ) Net accounts receivable $ 383,800 $ 355,200 Inventories, lower of cost or market $ 479,500 $ 435,000 Income Statement For the Years Ended December 31 2018 2017 Net credit sales $ 2,019,000 $ 1,755,000 Net cash sales 415,000 301,000 Net sales 2,434,000 2,056,000 Cost of goods sold 1,606,000 1,438,000 Selling, general, and administrative expenses 239,500 214,400 Other expenses 39,300 22,400 Total operating expenses $ 1,884,800 $ 1,674,800 Required Compute the accounts receivable turnover for 2018. Compute the inventory turnover for 2018. Compute the net margin for 2017. (For all requirements, round your answers to 2 decimal places.)