Problem: Module 4 Textbook Problem 8 Learning Objectives: 4-2 Calculate ratios for assessing a company's liquidity 4-4 Calculate ratios for assessing a company's managerial effectiveness Selected data from Jordan Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 $391,000 (19,550) $371,450 $475,500 Year 2 $372,000 (14,880) $357,120 $434,000 Income Statement For the Years Ended December 31 Year 3 Net credit sales $2,005,000 Net cash sales 416,000 Net sales 2,421,000 Cost of goods sold 1,602, 600 Selling, general, and administrative expenses 239,000 Other expenses 39,200 Total operating expenses $1,880,200 Year 2 $1,759,000 317,000 2,076,000 1,428,000 215,700 22,200 $1,665,900 Required a. Compute the accounts receivable turnover for Year 3. Income Statement For the Years Ended December 31 Year 3 Net credit sales $2,005,000 Net cash sales 416,000 Net sales 2,421,000 Cost of goods sold 1,602,000 Selling, general, and administrative expenses 239,000 Other expenses 39,200 Total operating expenses $1,880, 200 Year 2 $1,759,000 317,000 2,076,000 1,428,000 215,700 22,200 $1,665,900 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 tumover b. Inventory turnover c. Net margin times times % 119 DCY 3 tv MacBook Pro Okay