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Ace Industries has $1.8 million in current assets and $0.75 million in current liabilities. Ace decides to raise funds as additional notes payable and use
Ace Industries has $1.8 million in current assets and $0.75 million in current liabilities. Ace decides to raise funds as additional notes payable and use them to increase inventory. How much can Ace's note payable increase without pushing its current ratio below 1.3? Select one: O a. $1.8125 million. b. $1.8500 million. c. $1.7500 million O d. $2.7500 million. e. $2.5780 million
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