Excerpted financial information from the records of The Gap Inc., a major clothing retailer, follows (dollars in millions):

	2012	2011	2010
Inventory	$1,758	$!,615	$1,620
Current assets	4,132	4,309	3,926
Accounts payable	1,144	1,066	1,049
Current liabilities	2,344	2,128	2,095
Sales ---------------	$15,651	$14,549	$14,664
Cost of goods sold	9,480	9,275	$8,775

a. Compute the current ratio for each year.

b. Compute the gross margin for each year.

c. Compute inventory turnover and inventory days and accounts payable days for 2011 and 2012.

d. Comment on the companys solvency trend.