Short-term debt increase without pushing its current ratio

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Reference no: EM131358161

The Stewart Company has $2,277,000 in current assets and $1,001,880 in current liabilities. Its initial inventory level is $569,250, 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.

Reference no: EM131358161

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