Questions Problem 3-09 (Current and Quick Ratios) Question 9 of 31 7. Check My Work (1 remaining) 8. 9. 0 ED eBook Problem Walk-Through 10. Current and Quick Ratios 11. 12. The Nelson Company has $1,137,500 in current assets and $455,000 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 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. 13. 14. $ 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. 15. ooo 16