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Review an Annual Report to gain a general understanding of the types

of financial information contained in the report and why that information might be useful to a potential reader.  You will also be asked to locate specific financial accounting information in the report. 


Fill in the answers to the the word document "Annual Report Project Spring 2016"
using the document "GPS 2015 Annual Report" (PDF) clearly and thoroughly



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Name _________________________________ ACC 110 Financial Accounting Information for Decision-Making Spring 2016 Annual Report Project Objectives Locate specific financial accounting information in the Gap Inc. (Gap) 2015 Annual Report. Calculate various financial ratios and interpret. Gain a better understanding of the financial aspects of Gap’s retail business. Instructions 1. Locate Gap Inc.’s 2015 Annual Report which has been posted to Blackboard with these instructions. 2. There are 10 sections of questions. You will find the information necessary to answer the questions in “Item 8. Financial Statements and Supplementary Data,” beginning on page 32 of the report. Read through the questions carefully and answer in the space provided. 3. Please submit your project in hard copy---do not e-mail . DUE DATE: Thursday, May 5, 2016 (last day of class) Late projects will not be accepted . Section 1. Balance Sheet - Overview 1. What are the following amounts at 1/30/16: a. Total Assets __________________ b. Total Liabilities __________________ c. Total Owner’s Equity __________________ 2. At 1/30/16: a. What is the percentage of debt used to finance Gap? ____________ b. What is the percentage of owner’s equity used to finance Gap? ____________ c. What is the significance of these two percentages? _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ ____
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3. At 1/30/16: a. What percentage of Gap’s total assets are current assets ? __________ b. What percentage of Gap’s total assets are noncurrent assets ? __________ c. Comment on whether this makes sense when you consider Gap’s line of business. _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ _______________________________________________________________________ ____ Section 2. Income Statement - Overview 1. Is Gap’s income statement presented in a single-step or multiple-step format? _____________________ Why do you think that format was used? ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ___________________________________________________________________________________ ____ 2. What are the following amounts for the year ended 1/30/16: a. Net Sales ____________ b. Cost of Goods Sold ____________ c. Gross Margin ____________ d. Gross Margin Percentage ____________ e. Operating Income ____________ f. Net Income ____________ Section 3. Cash Flow Statement - Overview 1. What are the following amounts for the year ended 1/30/16: a. Cash flows from operating activities _______________ b. Cash flows from investing activities _______________ c. Cash flows from financing activities _______________ Section 4. Current Assets 1. What is the amount of Current Assets at 1/30/16? _______________ 2. What is the amount of Inventories at 1/30/16? _______________ 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? 2
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Name _________________________________ ACC 110 Financial Accounting Information for Decision-Making Spring 2016 Annual Report Project Objectives...
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