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Crane Inc (CI) has a short-term working capital loan to help finance its working capital. The terms of the loan enable CI to borrow an

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Crane Inc (CI) has a short-term working capital loan to help finance its working capital. The terms of the loan enable CI to borrow an amount of up to 35% of its inventory balance and 55% of its accounts receivable. One of the loan covenants requires that CI maintain a current ratio greater than 2 . Information related to Cl's current assets and current liabilities is shown in the following table: (a) Does Cisatsfy the loan covenant in both years? (Round onswers to 2 decims (ploces, es, 18.45) Crane Inc (CI) has a short-term working capital loan to help finance its working capital. The terms of the loan enable CI to borrow an amount of up to 35% of its inventory balance and 55% of its accounts receivable. One of the loan covenants requires that CI maintain a current ratio greater than 2 . Information related to Cl's current assets and current liabilities is shown in the following table: (a) Does Cisatsfy the loan covenant in both years? (Round onswers to 2 decims (ploces, es, 18.45)

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