7. Check My Work 8. 9. 10. 11. 7-2: Liquidity Ratios Problem Walk-Through Problem 7-9 Current and Quick Ratios The Nelson Company has $800,000 in current assets and $400,000 in current liabilities. Its initial inventory level is $200,000, and it will raise funds as additional notes payable and use them to increase inventory. 12. 13. How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 1.4? Round your answer to the nearest 14. cent. $ What will be the firm's quick ratio after Nelson has raised the maximum amount of short-term funds? Round your answer to two decimal places. Hide Feedback x Incorrect to search O 244 AM 10/12/20 fo 96 #3 boek 6 o 8 R