The Stewart Company has $2,392,500 in current assets and $1,076,625 in current liabilities. Its initial inventory level
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The Stewart Company has $2,392,500 in current assets and $1,076,625 in current liabilities. Its initial inventory level is $526,350, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0?
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Present current ratio 23925001076625 222 Minimum cur...View the full answer
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Related Book For
Fundamentals of Financial Management
ISBN: 978-1305635937
Concise 9th Edition
Authors: Eugene F. Brigham
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