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Selected data from Emporia Company follow Balance Sheets As of December 31 2017 2018 $600,000...

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Accounting

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Selected data from Emporia Company follow Balance Sheets As of December 31 2017 2018 $600,000 (40,000) $480,000 Accounts receivable Allowance for doubtful accounts (20,000) $460,000 Net accounts receivable $560,000 Inventories, lower of cost or market $500,000 $400,000 Income Statement For the Years Ended December 31 2018 2017 Net credit sales Net cash sales $2,400,000 600,e00 $1,950,000 450,000 Net sales 3,000,000 2,400,000 Cost of goods sold Selling, general, and administrative expenses Other expenses 1,800,000 300,000 80,000 1,520,e00 240,000 se,000 Total operating expenses $2,180,000 $1,810,000 Net cash sales 4, Net sales 3,000,000 2,400,000 Cost of goods sold Selling, general, and administrative expenses Other expenses 1,800,000 300,000 80,000 1,520,000 240,000 50,000 Total operating expenses $2,180,000 $1,810,000 Required a. Compute the accounts receivable turnover for 2018. b. Compute the inventory turnover for 2018. c. Compute the net margin for 2017. (For all requirements, round your answers to 2 decimal places.) a Accounts receivable turnover times b Inventory turnover times Net margin C. %

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