Selected data from Walton Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Year 3 $403,000 (20, 150) $382,850 Year 2 $374,000 (14,960) $ 359,040 Inventories, lower of cost or market $477,000 $431,000 Income Statement For the Years Ended December 31 Year 3 Net credit sales $2,005,000 Net cash sales 411,000 Net sales 2,416,000 Cost of goods sold 1,592,000 Selling, general, and administrative expenses 240,800 Other expenses 39,500 Total operating expenses $1,872,300 Year 2 $1,754,000 303,000 2,057,000 1,434,000 214,500 23,000 $1,671,500 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