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Selected data from Campbell Company follow. Balance Sheets As of December 31 Year 3 Year 2 Accounts receivable $399,000 $375,000 Allowance for doubtful accounts (19,950)

Selected data from Campbell Company follow.

Balance Sheets
As of December 31
Year 3 Year 2
Accounts receivable $399,000 $375,000
Allowance for doubtful accounts (19,950) (15,000)
Net accounts receivable $379,050 $360,000
Inventories, lower of cost or market $480,500 $445,000

Income statement As of end of Dec 31

Net credit sales $2,011,000 $1,757,000
Net cash sales 410,000 301,000
Net sales 2,421,000 2,058,000
Cost of goods sold 1,598,000 1,432,000
Selling, general, and administrative expenses 240,800 215,800
Other expenses 40,000 22,200
Total operating expenses $1,878,800 $1,670,000

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.

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