Increase without pushing its current ratio

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Reference no: EM131625336

The Stewart Company has $782,000 in current assets and $297,160 in current liabilities. Its initial inventory level is $156,400, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0? Round your answer to the nearest cent.

Reference no: EM131625336

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