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Selected data from Rundle Company follow: Balance Sheets As of December 31 Year 3 Year 2 Accounts receivable $ 403,000 $ 379,000 Allowance for doubtful

Selected data from Rundle Company follow:

Balance Sheets As of December 31
Year 3 Year 2
Accounts receivable $ 403,000 $ 379,000
Allowance for doubtful accounts (20,150 ) (15,160 )
Net accounts receivable $ 382,850 $ 363,840
Inventories, lower of cost or market $ 484,500 $ 430,000

Income Statement For the Years Ended December 31
Year 3 Year 2
Net credit sales $ 2,012,000 $ 1,759,000
Net cash sales 415,000 309,000
Net sales 2,427,000 2,068,000
Cost of goods sold 1,598,000 1,430,000
Selling, general, and administrative expenses 239,300 215,900
Other expenses 40,100 22,300
Total operating expenses $ 1,877,400 $ 1,668,200

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. (For all requirements, round your answers to 2 decimal places.)

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