Question
11. The Stewart Company has $2,245,000 in current assets and $830,650 in current liabilities. Its initial inventory level is $516,350, and it will raise funds
11.
The Stewart Company has $2,245,000 in current assets and $830,650 in current liabilities. Its initial inventory level is $516,350, 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? Round your answer to the nearest cent.
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
