The CEO of an office equipment company decides to borrow money to expand their manufacturing facility.The company has current assets of $4,000,000 and current liabilities of $640,000.How much can they borrow if they want their current ratio of assets to liabilities to be no less than 3? (Note: (1)The current ratio is the ratio of a business' current assets to its current liabilities; (2)The funds they receive are considered as current assets and the loan as a current liability.)

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The Answer of The CEO of an office equipment company decides to borrow money to expand their manufacturing facility.The company has current assets of $4,000,000 and current liabilities of $640,000.How much can they borrow if they want their current ratio of assets to liabilities to be no less than 3? (Note: (1)The current ratio is the ratio of a business' current assets to its current liabilities; (2)The funds they receive are considered as current assets and the loan as a current liability.)

The CEO of an Office Equipment Company Decides to Borrow