Clayton Industries has the following account balances: Current assets Noncurrent assets $15,000 71,000 Current liabilities Noncurrent liabilities Stockholders' equity $14,000 56,000 16,000 The company wishes to raise $42,000 in cash and is considering two financing options: Clayton can sell $42,000 of bonds payable, or it can issue additional common stock for $42,000. 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. Required a-1. Compute the current ratio for Clayton's management. (Round your answers to 2 decimal places.) Currently If bonds are issued If stock is issued Current Ratio to 1 to 1 to 1 Clayton Industries has the following account balances: Current assets Noncurrent assets $15,000 71,000 Current liabilities Noncurrent liabilities Stockholders' equity $14,000 56,000 16,000 The company wishes to raise $42,000 in cash and is considering two financing options: Clayton can sell $42,000 of bonds payable, or it can issue additional common stock for $42,000. 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. Required a-1. Compute the current ratio for Clayton's management. (Round your answers to 2 decimal places.) Currently If bonds are issued If stock is issued Current Ratio to 1 to 1 to 1