The Dubious Company operates in an industry where all sales are made on account. The company has experienced bad debt losses of 1.00% 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 Sales Revenue $ 377,000 $ 383,000 $382,000 Bad Debt Other Expenses Net Income Unknown 337,000 Unknown Unknowrn 334,000 Unknowrn Unknown 336,750 Unknown Expense Required: a. Calculate Bad Debt Expense and net income for each of the three years, assuming uncollectible accounts are estimated as 1.00% of sales Year 1 Year 2 Year 3 Bad Debt Expense Net Income Assume that the company changes its estimate of uncollectible credit sales to 1.00% in year 1, 2.00% in year 2 and 1.50% in year 3Calculate 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