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 Years Sales Revenue Bad Debt Expense Other Expenses Net Income 5 378,000 Unknown 334,000 Unknown 384.000 Unknown 335,000 Unknown $ 383,000 Unknown 335,750 Unknown Required: a. Calculate Bad Debt Expense and net income for each of the three years, assuming uncollectible counts are estimated as 1.40% of sales Year 1 Year 2 Year 3 Bad Debt Expense Net Income L Assume that the company changes yat2 and 100% of uncollectible credit sales to 1.40% in year 1. 2.40 under this Calculate the Bad Debt these and s and net comeforest of the three years in | Yeart Year2 Bad Debt Expense Year Netcom