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

Compute the accounts receivable turnover for 2018.

4.29 times

Compute the inventory turnover for 2018

3.6 times

Compute the net margin for 2017.

24.58%

Explanation:

Compute the accounts receivable turnover for 2018.

accounts receivable turnover = Sales / Accounts receivable

                                                  =  $ 2,400,000 / $ 560,000

                                                  = 4.29 times

Compute the inventory turnover for 2018

Inventory turnover = cost of Sales / inventory

                                = $1,800,000 /  $ 500,000

                                = 3.6 times

Compute the net margin for 2017.

net margin = Net Profit / Sales × 100

                  = (2,400,000-1,810,000) / 2,400,000  × 100

                  = 24.58%

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

answer(b) revenue account which increases;