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Determine what will be the firm quick ratio after nelson

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Reference no: EM132649823

Current and Quick Ratios

The Nelson Company has $1,175,000 in current assets and $470,000 in current liabilities. Its initial inventory level is $305,000, 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 1.8? Do not round intermediate calculations. Round answer to the nearest dollar.

Problem 1: What will be the firm's quick ratio after Nelson has raised the maximum amount of short-term funds? Do not round intermediate calculations. Round answer to two decimal places.

Reference no: EM132649823

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