Selected ratios for XYZ Corporation for year ended Year $2008$ are:

Debt$/$equity

$0\mathrm{.}8$

Times interest earned

$3\mathrm{.}0$

Current ratio

$1\mathrm{.}2$

Cash flow to fixed charges

$2\mathrm{.}8$

Below is a set of transactions that are not reflected in the ratios above. Consider each transaction independently and indicate its effect on the above ratios.

$1.$ Decrease in tax rate at the end of $2008.$

$2.$ Issued $$1,000$ in common stock to repay $$1,000$ of long$-$term debt at the beginning of $2008.$

$3.$ Useful life of depreciable assets was increased at the beginning of $2008.$