Question
The Nelson Company has $997,500 in current assets and $475,000 in current liabilities. Its initial inventory...
The Nelson Company has $997,500 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 1.6?
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. _______
Homework Answers
Answer #1
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