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The Allen Marble Company has a target current ratio of 2.3 but has experienced some difficulties financing its expanding sales in the past few months.
The Allen Marble Company has a target current ratio of 2.3 but has experienced some difficulties financing its expanding sales in the past few months. At present the firm has current assets of $2.8million 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 $________.
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