Clayton Industries has the following account balances: Current assets Noncurrent assets $ 19,000 Current liabilities 74,000 Noncurrent liabilities Stockholders' equity $13,000 55,000 25,000 The company wishes to raise $46,000 in cash and is considering two financing options: Clayton can sell $46,000 of bonds payable, or it can issue additional common stock for $46,000. To help in the decision process, Clayton's management wants to determine the effects of each alternative on its current ratio and debt-to-assets ratio. a-1. Compute the current ratio for Clayton's management. Note: Round your answers to 2 decimal places. Currently If bonds are issued If stock is issued Current Ratio to 1 to 1 to 1 a-2. Compute the debt-to-assets ratio for Clayton's management. Note: Round your answers to 1 decimal place. Currently If bonds are issued If stock is issued Debt to Assets Ratio % % % b. Assume that after the funds are invested, EBIT amounts to $12,500. Also assume the company pays $4,500 in dividends or $4,500 in interest depending on which source of financing is used. Based on a 30 percent tax rate, determine the amount of the increase in retained earnings that would result under each financing option. Additional Retained Earnings Bonds Stock