The company has $1,750,000 in current assets and $700,000 in current liabilities. its initial inventory level is $500,000, and it will raise funds as additional notes payable and use them to increase inventory. how much can speirs's short-term debt (notes payable) increase inventory without violating a current ratio of 2.25 to 1? what will be the firm's quick ratio after speirs has raised the maximum short-term funds? round this value to two decimal places. do not include $ signs or commas.

Trecek corporation incurs research and development costs of $625,000 in 2017, 30 percent of which relate to development activities subsequent to ias 38 criteria having been met that indicate an intangible asset has been created. the newly developed product is brought to market in january 2018 and is expected to generate sales revenue for 10 years. assume that a u. s.–based company is issuing securities to foreign investors who require financial statements prepared in accordance with ifrs. thus, adjustments to convert from u. s. gaap to ifrs must be made. ignore income taxes. required: (a) prepare journal entries for research and development costs for the years ending december 31, 2017, and december 31, 2018, under (1) u. s. gaap and (2) ifrs. (c) prepare the entry(ies) that trecek would make on the december 31, 2017, and december 31, 2018, conversion worksheets to convert u. s. gaap balances to ifrs.