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( Liquidity analysis ) The Mitchem Marble Company has a target current ratio of 2 . 1 but has experienced some difficulties financing its expanding

(Liquidity analysis) The Mitchem Marble Company has a target current ratio of 2.1 but has
experienced some difficulties financing its expanding sales in the past few months. At present, the
firm has a current ratio of 2.9 and current assets of $2.26 million. If Mitchem 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 additional amount of receivables and inventories (short-term debt) is $ million. (Round to two
decimal places.)
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