Hi pleas help m with the below and thanks.

(1) The Morrit Corporation has $1,140,000 of debt outstanding, and it pays an interest of 8% annually. Morrit's annual sales are $6 million, its average tax rate is 25%, and its net profit margin on sales is 8%. If the company does not maintain a TIE ratio of at least 3 to 1, then its bank will refuse to renew loan, and bankruptcy will result. What is Morrit's TIE ratio? Round answer to two decimal places.

2) The Nelson Corporation has $1,344,000 in current assets and $ $480,00 in current liabilities. its initial inventory level is $330,000, and it will raise funds as additional note payable an used them to increase inventory. How much can Nelson's short-term debt ( note payable) increase without its current ratio below 2.0? round answer to two decimal places.