Assume you are given the following relationships for the Haslam Corporation:

Sales/total assets	1.4
Return on assets (ROA)	4%
Return on equity (ROE)	7%

Calculate Haslam's profit margin. Do not round intermediate calculations. Round your answer to two decimal places. %

Calculate Haslam's liabilities-to-assets ratio. Do not round intermediate calculations. Round your answer to two decimal places. %

Suppose half of Haslam's liabilities are in the form of debt. Calculate the debt-to-assets ratio. Do not round intermediate calculations. Round your answer to two decimal places. %

2. Current and Quick Ratios

The Nelson Company has $1,140,000 in current assets and $475,000 in current liabilities. Its initial inventory level is $285,000, and it will raise funds as additional notes payable and use them to increase inventory.

How much can Nelson's short-term debt (notes payable) increase without pushing its current ratio below 2.1? Round your answer to the nearest 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.