Current Ratio Gross Margin Ratio Cash Flows to Assets Deal ONLY with the facts provided in the scenario, and determine the direct effects of the scenario ONLY in the current period. Assume no effect on the market price of stock. Assume the Current Ratio prior to any scenario was 2.1 Current Ratio - (Current Assets) / (Current Liabilities) Gross Margin Ratio - (Gross Margin) / (Net Sales) Cash Flows to Assets Ratio - (Net Cash Flows from Operating Activities) / (Average Total Assets) Eric's Elephant Training bought back 1,000 shares of its own $1 par value Common Stock in the current period with cash. Multiple Choice The Current Ratio will increase, no effect on the Gross Margin Ratio, and the Cash Flows to Assets Radio will increase The Current Rates will decrease, no effect on the Cross Marpin Rufo, and the Cash Flows to Assets Ratio with internete The Current Ratio wit increase, no effect on the Groun Margin Ratio, and the Corn Flows to Assets Ratio win decrease The Current Ratio will decrease notect on the Gross Margin Rutio, and the Cash Flows to Asses Ruto wilder