The Dubious Company operates in an industry where all sales are made on account. The company has experienced bad debt losses of 1.40% of credit sales in prior periods. Presented below is the company's forecast of sales and expenses over the next three years. Year 1 Year 2 Year 3 $ 382,000 $ 388,000 $ 387,000 Sales Revenue Bad Debt Expense Other Expenses Unknown Unknown Unknown 336,000 336,000 332,750 Net Income Unknown Unknown Unknown Required a. Calculate Bad Debt Expense and net income for each of the three years, assuming uncollectible accounts are estimated as 1.40% of sales Year 1 Year 2 Year 3 Bad Debt Expense Net Income C. Assume that the company changes its estimate of uncollectible credit sales to 1.40% in year 1, 2.40% in year 2 and 1.90% in year 3, Calculate the Bad Debt Expense and net income for each of the three years under this alternative scenario Year 1 Year 2 Year 3 Bad Debt Expense Net Income