Homework, Chapter 3 Assignment Score: 789 Submit Assignment for Grading Question 16 of 18 Check My Work Save Exit Problem 3-09 eBook Problem Walk-Through Problem 3-9 Current and Quick Ratios The Nelson Company has $1,170,000 in current assets and $450,000 in current liabilities. Its initial inventory level is $225,000, 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? Round your answer to the nearest cent 2. 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 Check My Work 0- Icon Key Type here to search 4/10/2018 8 B N M