Current and quick ratios the nelson company has 1425000 in, Ask an Expert

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Current and Quick Ratios The Nelson Company has $1,425,000 in current assets and $475,000 in current liabilities. Its initial inventory level is $332,500, and it will raise funds as additional notes payable and use them to increase inventory. How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.3? Round your answer to the nearest cent. $ What will be the firm's quick ratio after Nelson has raised the maximum amount of short-term funds? Round your answer to two decimal places.

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