Selected data from Rooney Company follow. Accounts receivable Balance Sheets As of December 31 Allowance for doubtful accounts Year 3 $407,000 Year 2 $375,000 (20,350) (15,000) $386,650 $360,000 $482,000 $434,000 Net accounts receivable Inventories, lower of cost or market Income Statement For the Years Ended December 31 Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expense 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. Year 3 $2,001,000 488,000 2,409,000 1,596,000 240,300 Year 2 $1,757,000 314,000 2,071,000 1,434,000 215,200 39,988 22,400 $1,876,200 $1,671,600