Question
CURRENT RATIO The Stewart Company has $821,500 in current assets and $353,245 in current liabilities. Its initial inventory level is $188,945, and it will
CURRENT RATIO The Stewart Company has $821,500 in current assets and $353,245 in current liabilities. Its initial inventory level is $188,945, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt (notes payable) increase without pushing its current ratio below 2.0? Round your answer to the nearest cent. $
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Fundamentals of Financial Management
Authors: Eugene F. Brigham
Concise 9th Edition
1305635937, 1305635930, 978-1305635937
