The Dubious Company operates in an industry where all sales are made on account. The company has experienced bad debt losses of 1% of credit sales in prior periods. Presented below is the company's forecast of sales and expenses over the next three years. Year 1 368,000 Year 2 374,000 Year 3 $ 373,000 $ $ Unknown Unknown Unknown Sales Revenue Bad Debt Expense Other Expenses Net Income 340,000 Unknown 342,000 Unknown 342,750 Unknown Required: a. Calculate Bad Debt Expense and net income for each of the three years, assuming uncollectible accounts are estimated as 1.0% of sales. b. Assume that the company changes its estimate of uncollectible credit sales to 1.0% in Year 1, 2.0% in Year 2 and 1.5% in Year 3. Calculate the Bad Debt Expense and net income for each of the three years under this alternative scenario