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3. The Del Rio Donut Shop has the following financial information: Total Assets = $1.6 million Current Ratio = 1.1 times Bonds = $500,000 Debt/equity

3. The Del Rio Donut Shop has the following financial information:

Total Assets = $1.6 million

Current Ratio = 1.1 times

Bonds = $500,000

Debt/equity ratio = 90%

Based on the above information, calculate the current assets balance.

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