Selected data from Gibson 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 $390,000 (19,500) $370,500 $478,500 Year 2 $372,000 (14,880) $357, 120 $441,000 Income Statement For the Years Ended December 31 Year 3 Net credit sales $2,019,000 Net cash sales 409,000 Net sales 2,428,000 Cost of goods sold 1,594,000 Selling, general, and administrative expenses 240,000 Other expenses 39,900 Total operating expenses $1,873,900 Year 2 $1,759,000 307,000 2,066,000 1,438,000 215,700 24,000 $1,677,700 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.) Income Statement For the Years Ended December 31 $2 2, Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses 1, $1, 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. times a. Accounts receivable turnover b. Inventory turnover c. Net margin times %