points Balance Sheets As of December 31 Hint Print Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 Year 2 $403,000 $374,000 (20,150) (14,960) $382,850 $359,040 $479,000 $437,000 Net credit sales: Income Statement For the Years Ended December 31 Net cash sales. Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses Year 3 $2,007,000 403,000 2,410,000 Year 2 $1,751,000 308,000 2,059,000 1,596,000 1,428,000 240,500 215,500 39,900 $1,876,400 22,700 $1,666,200 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.