Excerpted financial information from the records of The Gap, Inc., a major clothing retailer, follows (dollar in million s)"

a. Compute the current ratio for each year.b. Compute the gross margin for each year.c. Compute inventory turnover and inventory days for 2007 and 2008; compute accounts payable turnover and accounts payable days for 2007 and 2008.d. Comment on the company's solvencytrend.

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2008 2007 2006 Inventory Current assets Accounts payable Current liabilities S 1.506 4,005 975 2.158 S 1,575 5 1.796 4,086 1,006 2,433 772 2,272 5.029 S15,923 10,266 Sales Cost of goods sold S14.526 9.079 $15,763 10,071