Exercise 9-11 Accounts receivable turnover, inventory turnover, and net margin LO 9-2, 9-4 Selected data from Adams Company follow: Balance Sheets As of December 31 2018 Accounts receivable $406,000 Allowance for doubtful (20,300) accounts Net accounts receivable $385,700 Inventories, lower of $482,500 cost or market 2017 $374,000 (14,960) $359, 040 $442,000 Income Statement For the Years Ended December 31 2018 Net credit sales $2,004,000 Net cash sales 403,000 Net sales 2,407,000 Cost of goods sold 1,592,000 Selling, general, and administrative expenses 241,000 Other expenses 39,400 Total operating expenses $1,872,400 2017 $1,756,000 313,000 2,069,000 1,426,000 215,000 23, 700 $1,664,700 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.) times Accounts receivable a. turnover b. Inventory turnover c. Net margin times 1%