Selected data from Vernon Company follow: Accounts receivable Balance Sheets As of December 31 Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 $ 400,000 (20,000) $380,000 Year 2 $ 373,000 (14,920) $ 358,080 $ 482,000 $ 441,000 Income Statement For the Years Ended December 31 Year 3 Year 2 Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses 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. $ 2,001,000 $1,751,000 305,000 2,056,000 1,426,000 408,000 2,409,000 1,596,000 240,500 39,800 216,000 23,500 $ 1,876,300 $ 1,665,500 Note: For all requirements, round your answers to 2 decimal places. a. Accounts receivable turnover b. Inventory turnover c. Net margin times times %