Tim Tebow's Puppy Rescue has sales of $2.19 M, net income of $0.174 M, net fixed assets of $1.55 M, and current assets of $0.71 M. The firm has $0.3 M in accounts receivables. What is the common-size statement value of A/R? Enter all percentages as a decimal (ex. 25.7% as 0.257).
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Hindelang Corporation has $1,240,324 in current assets and $538,549 in current liabilities. Its initial inventory level is $375,000, and it will raise funds through additional notes payable and use them to increase inventory. How much can Hindelang's short-term debt (notes payable) increase without pushing its current ratio below 2.1?