C cash flows from financing activities section 4

c. Cash flows from financing activities _______________
Section 4. Current Assets
1. What is the amount of Current Assets at 1/30/17? _______________
2. What is the amount of Inventories at 1/30/17? _______________
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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?
________________________________________________________________________
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Section 5. Noncurrent Assets
1. What is the amount of Noncurrent Assets at 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 Liabilities
1. What is the amount of Current Liabilities at 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 Liabilities
1. What is the amount of Noncurrent Liabilities at 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 Equity
1. At 1/30/17:
How many shares of common stock are: (a) authorized _______________
(b) issued _______________
(c) outstanding _______________
How many shares of preferred stock are: (a) authorized _______________
(b) issued _______________
(c) outstanding _______________
2. What was the amount of dividends paid to shareholders during 2016? _______________
Section 9. Other Information
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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 News
Search for a recent news article about Gap (within the past year) that discusses a topic which has financial
implications to the company. Prepare a brief summary of the article (reference article here) and explain the
importance or significance of this information to Gap’s financial statements.
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