Assignment: HW 2: EOC 7 Problems Assignment Score: 71.42% Questions Problem 7-09 (Current and Quick Ratios) 4 Question 4 of 7 . 2. 3. 4 . 5. 6. 7. Check My Work (1 remaining) Current and Quick Ratios The Nelson Company has $1,404,000 in current assets and $540,000 in current liabilities. Its initial inventory level is $380,000, 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 your answer to the nearest dollar. $ 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 your answer to two decimal places. Check My Work (1 remaining)