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Ace Industries has $2.0 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 $2.0 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 Aces note payable increase without pushing its current ratio below 1.8? a) $0.1875 million b) $0.2578 million c) $0.8500 million. d) $0.2625 million. e) $0.8125 million.
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