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(Evaluating liquidity) The Allen Marble Company has a target current ratio of 2.2 but has experienced some difficulties financing its expanding sales in the past
(Evaluating liquidity) The Allen Marble Company has a target current ratio of 2.2 but has experienced some difficulties financing its expanding sales in the past few months. At present the firm has current assets of $2.8 million and a current ratio of 2.8. If Allen expands its receivables and inventories using its short-term line of credit, how much additional short-term funding can it borrow before its current ratio standard is reached?
The addition to current assets is $____. (Round to the nearest dollar.)
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