c Cash flows from financing activities Section 4 Current Assets 1 What is the

C cash flows from financing activities section 4

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c.Cash flows from financing activities_______________Section 4.Current Assets1.What is the amount of Current Assetsat 1/30/17? _______________2.What is the amount of Inventoriesat 1/30/17? _______________ 3
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a.What valuation principle does Gap use to value these inventories? ________________________________________________________________________ b.Which cost flow assumption does Gap use to determine the cost of inventories? ________________________________________________________________________ 4
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Section 5. Noncurrent Assets 1.What is the amount of Noncurrent Assetsat 1/30/17? _______________2.What is the amount of Property and Equipment(net) held by Gap at 1/30/17? _______________a.How much depreciation has been recorded on these assets at 1/30/17? _______________b.What method does Gap use to calculate depreciation? _______________________3.What is the amount of Furniture and Equipment held by Gap at 1/30/17? _______________Section 6.Current Liabilities1.What is the amount of Current Liabilitiesat 1/30/17? _______________2.What are the following amounts for the year ended 1/30/17:a.Accounts Payable_______________b.Current ratio_______________Section 7.Noncurrent Liabilities1.What is the amount of Noncurrent Liabilitiesat 1/30/17? _______________2.How much of Gap’s long-term debt will become due and payable in less than 1 year? ______________ Section 8. Shareholder’s Equity1.At 1/30/17:How many shares of common stockare:(a) authorized_______________(b) issued_______________(c) outstanding_______________How many shares of preferred stockare:(a) authorized_______________(b) issued_______________(c) outstanding _______________ 2.What was the amount of dividends paid to shareholders during 2016? _______________ Section 9. Other Information 5
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Locate the following information in the Gap 2016 Annual Report:a.Name of Gap’s CEO __________________b.Name of Gap’s CFO __________________c.Stock symbol on the New York Stock Exchange (NYSE) ___________________d.Independent accountants (auditors) _________________________Section 10.Recent Financial NewsSearch for a recent news article about Gap (within the past year) that discusses a topic which has financialimplications to the company. Prepare a briefsummary of the article (reference article here) and explain theimportance or significance of this information to Gap’s financial statements. 6
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