Analyze and compare Abercrombie & Fitch and The Gap Abercrombie & Fitch Co. (ANF) and The Gap, Inc. (GPS) are two U.S. apparel retailers. The current assets and current liabilities for each company from recent balance sheets are as follows (in thousands): Current assets: Cash Accounts receivable Inventories Other current assets Total current assets Current liabilities: Accounts payable Other current liabilities Total current liabilities Required: Abercrombie & Fitch The Gap $723,135 $1,364,000 73,112 290,000 437,879 2,156,000 101,824 $1,335,950 706,000 $4,516,000 $226,878 $1,174,000 332,039 $558,917 2,035,000 $3,209,000 a. Compute the working capital for each company. Abercrombie: $777,033 thousand The Gap: $ 1,307,00 thousand b. Compute the current ratio for each company. Round your answers to one decimal place. Abercrombie: The Gap: 1.4 2.4 c. Compute the quick ratio for each company. Round your answers to one decimal place. Abercrombie: The Gap: d. Which company appears to have the greater short-term liquidity? Why? Abercrombie has a greater short-term liquidity position because it's current and quick ratio is better than The Gap.