Question: please help with the below question. please show step by step The Nelson Company has $1,287,500 in current assets and $515,000 in current liabilities. Its

please help with the below question. please show step by step

The Nelson Company has $1,287,500 in current assets and $515,000 in current liabilities. Its initial inventory level is $385,000, 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 2.2? 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.

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