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Iken Berry Farms has $5 million in current assets $3 millionincurrent liabilitie
Normas Cat Food of Shell Knob ships cat food throughout thecountry. Norma has de
September 15, 20201) The term regression was originally used in 1885 by SirFrancis Galton in his a
September 15, 2020Iken Berry Farms has $5 million in current assets $3 millionincurrent liabilities and its initial inventory level is $1 million.The companyplans to increase its inventory and it will raise additionalshort-term debt(that will show up as notes payable on the balance sheet) topurchase theinventory. Assume that the value of the remaining current assetswill notchange. The companys bond covenants require it to maintain acurrent ratiothat is greater than or equal to 1.5. What is the maximum amountthat thecompany can increase its inventory before it is restricted by thesecovenants?
