Selected data from Vernon 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 $403,000 (20,150) $382,850 $ $484,000 Year 2 $373,000 (14,920) $358,089 $437,000 Income Statement For the Years Ended December 31 Year 3 Net credit sales $2,012,000 Net cash sales 419,000 Net sales 2,431,000 Cost of goods sold 1,590,000 Selling, general, and administrative expenses 239,200 Other expenses 39,800 Total operating expenses $1,869,000 Year 2 $1,751,000 308,000 2,059,000 1,438,000 215,200 23 , . $1,676,200 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