The Nelson Company has $1,261,000 in current assets and $485,000in current liabilities. Its initial inventory level is $350,000,and it will raise funds as additional notes payable and use them toincrease inventory. How much can Nelson's short-term debt (notespayable) increase without pushing its current ratio below 1.8? Donot round intermediate calculations. Round your answer to thenearest dollar. What will be the firm's quick ratio after Nelsonhas raised the maximum amount of short-term funds? Do not roundintermediate calculations. Round your answer to two decimalplaces.
