Rahul Selected data from Vernon Company follow:Accounts receivableAllowance for doubtful accountsNet accounts receivableInventories, lower of cost or marketNet credit salesNet cash salesNet salesCost of goods soldBalance SheetsAs of December 31Selling, general, and administrative expensesOther expensesTotal operating expensesa. Accounts receivable turnoverb. Inventory turnoverc. Net marginYear 3$ 400,000(20,000)$ 380,000$ 482,000Income StatementFor the Years Ended December 31Year 2$ 373,000(14,920)$ 358,080$ 441,000Requireda. Compute the accounts receivable turnover for Year 3.b. Compute the inventory turnover for Year 3.c. Compute the net margin for Year 2.Note: For all requirements, round your answers to 2 decimal places.timestimes%Year 3$ 2,001,000408,000305,0002,409,0002,056,0001,596,0001,426,000240,500216,00039,80023,500$ 1,876,300 $ 1,665,500Year 2$1,751,000

ACCOUNT RECEIVABLE TURNOVER RATIOAccount Receivable Turnover Ratio is the Ratio between Net Credit…

Selected data from Vernon Company follow: Balance Sheets As of December 31 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Year 3 $ 400,000 (20,000) 380,000 $ 482,000 Income Statement For the Years Ended December 31 * Year 2 $ 373,000 (14,920) $ 358,080 $ 441,000 Year 3 $ 2,001,000 408,000 2,409,000 1,596,000 240,500 39,800 $ 1,876,300 Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses 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. Note: For all requirements, round your answers to 2 decimal places. Year 2 $1,751,000 305,000 2,056,000 1,426,000 216,000 23,500 $1,665,500