Question: Problem Set 1 0 Back to Assignment Attempts 'l I l I -:- KeepiheHighest'l/Z 8. Problem 3'09 (Current and Quick Ratios) L1 El Current and

Problem Set 1 0 Back to Assignment Attempts 'l I l I -:- KeepiheHighest'l/Z 8. Problem 3'09 (Current and Quick Ratios) L1 El Current and Quick Ratios The Nelson Company has $1,455,000 in current assets and $485,000 in current liabilities. Its initial inventory level is $310,000, and it will raise funds as additional notes payable and use them to increase inventory. How much can Nelson's shorteterm debt (notes payable) increase Without pushing its current ratio below 2.0? 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 oic shortatern'i funds? Do not round intermediate calculations. Round your answer to two decm'ial places. Continue without saving

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