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Exercise 10-25A Determining the effects of financing alternatives on ratios LO 10-8 Clayton Industries has the following account balances: Current assets $ 28,000 Current liabilities $ 8,000 Noncurrent assets 74,000 Noncurrent liabilities 41,000 Stockholders' equity 53,000 The company wishes to raise $34,000 in cash and is considering two financing options: Clayton can sell $34,000 of bonds payable, or it can issue additional common stock for $34,000. 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 a-2. Compute the debt-to-assets ratio for Clayton's management. (Round your answers to 1 decimal place.) Debt to Assets Ratio % Currently If bonds are issued If stock is issued % % b. Assume that after the funds are invested, EBIT amounts to $19,000. Also assume the company pays $3,300 in dividends or $3,300 in interest depending on which source of financing is used. Based on a 40 percent tax rate, determine the amount of the increase in retained earnings that would result under each financing option. Additional Retained Earnings Bonds Stock