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The Stern Company has $2,306,000 in current assets and $1,074,750 in current liabilities. Its initial inventory level is $579,800, and it will raise funds as
The Stern Company has $2,306,000 in current assets and $1,074,750 in current liabilities. Its initial inventory level is $579,800, and it will raise funds as additional notes payable and use them to increase inventory. How much can its short-term debt increase without pushing its current ratio below 2.0? Round to the nearest whole dollar.
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