PLEASE HELP!!!!! I'm missing some answers!

1. Current and Quick Ratios

The Nelson Company has $1,260,000 in current assets and $600,000 in current liabilities. Its initial inventory level is $360,000, 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 2.0? Round your answer to the nearest cent. - ANSWER: 60,000.00

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.

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2. Times-Interest-Earned Ratio

The Morris Corporation has $350,000 of debt outstanding, and it pays an interest rate of 8% annually. Morris's annual sales are $1.75 million, its average tax rate is 35%, and its net profit margin on sales is 4%. If the company does not maintain a TIE ratio of at least 5 to 1, its bank will refuse to renew the loan and bankruptcy will result.

What is Morris's TIE ratio? Round intermediate calculations to two decimal places. Round your answer to two decimal places.

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Market /Book Ratio 3.5

Problem 3-13 Comprehensive Ratio Analysis Data for Lozano Chip Company and its industry averages follow Lozano Chip Company: Balance Sheet as of December 31, 2016 (Thousands of Dollars) Cash Receivables Inventories $ 225,000 1,575,000 1,125,000 Total current assets $2,925,000 1,350,000 $601,866 326,634 525,000 $1,453,500 1,068,750 1,752,750 $4,275,000 Accounts payable Notes payable Other current liabilities Total current liabilities Long-term debt Common equity Total liabilities and equity Net fixed assets Total assets Lozano Chip Company: Income Statement for Year Ended December 31, 2016 (Thousands of Dollars) Sales Cost of goods sold Selling general and administrative expenses $4,275,000 $7,500,000 6,375,000 825,000 $ 300,000 111,631 $ 188,369 75,348 $ 113,022 Earnings before interest and taxes (EBIT) Interest expensee Earnings before taxes (EBT) Federal and state income taxes (40%) Net income a. Calculate the indicated ratios for Lozano. Round your answers to two decimal places Ratio Current assets/Current liabilities Days sales outstanding Lozano Industry Average 2.0 2.01 35.0 days 76.65 days