If the bike has an adjustable stem (don't remember, I'm going to look), then you're in the money there. I'm going to go out on a limb and say that the saddle was probably placed to the correct height in the store. (reference alanbikehouston's comments.)

An adjustable stem will make it easy...just raise 10 degrees or so.

Otherwise, the store may need to put a spacer in to raise it.

Remember, just a "break" in the elbow. Your arms can be straight, just not completely locked out.