Current and Quick Ratios The Nelson Company has $1,269,000 in current assets and $470,000 in current liabilities. Its in

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Current and Quick Ratios
The Nelson Company has $1,269,000 in current assets and $470,000
in current liabilities. Its initial inventory level is $305,000,
and it will raise funds as additional notes payable and use them to
increase inventory. How much can Nelson's short-term debt (notes
payable) increase without pushing its current ratio below 1.8? Do
not round intermediate calculations. Round your answer to the
nearest dollar.
$
What will be the firm's quick ratio after Nelson has raised the
maximum amount of short-term funds? Do not round intermediate
calculations. Round your answer to two decimal places.