From the Financial Statements of the GAP, identify the following items and input amounts i [14 Points - 1 point per account] THE GAP, INC. CONSOLIDATED BALANCE SHEETS See Accompanying Notes to Consolidated Financial Statements THE GAP, INC. CONSOLIDATED STATEMENTS OF OPERATIONS ACCTG 231 ends the semester with a step back into working with financial statements prepared for external users, computing ratios commonly employed by investors and creditors to evaluate companies, and doing so using an excel spreadsheet. For this assignment you will use the financial statements for GAP, Inc., provided in n Canvas. The financial statements are included in the GAP's annual report: - The Consolidated Balance Sheet is found on page 46 and - The Consolidated Statement of Operations (i.e. Income Statement) is on page 47. 1. After locating the financial statements, enter the amounts requested into the Excel spreadsheet template. (14 points) a. Some items require amounts from the current year only, while inventory and total stockholders' equity require both the current year and the previous year. b. Amounts for annual dividends and market price of GAP stock have been entered into cells Q9 and Q10, respectively). 2. Compute the ratios requested in the Excel template using the formulas in the text (see Exhibit 14-6). ( 9 points) NOTE: ratios presented in various online sites for GAP may differ from those you compute, as some websites may adjust formulas and/or omit items from some calculations (i.e., some ratios have a few variations with regard to alternative calculations). Points for this assignment will be based on: - Using amounts from the specific financial statements provided - Computing ratios using the specific formulas in Chapter 14 (a summary of the Chapter 14 formulas is in Exhibit 14-6, pages 680-681 - in the text) - be sure spreadsheet presents all computations to two decimal places. From the Financial Statements of the GAP, identify the following items and input amounts i [14 Points - 1 point per account] THE GAP, INC. CONSOLIDATED BALANCE SHEETS See Accompanying Notes to Consolidated Financial Statements THE GAP, INC. CONSOLIDATED STATEMENTS OF OPERATIONS ACCTG 231 ends the semester with a step back into working with financial statements prepared for external users, computing ratios commonly employed by investors and creditors to evaluate companies, and doing so using an excel spreadsheet. For this assignment you will use the financial statements for GAP, Inc., provided in n Canvas. The financial statements are included in the GAP's annual report: - The Consolidated Balance Sheet is found on page 46 and - The Consolidated Statement of Operations (i.e. Income Statement) is on page 47. 1. After locating the financial statements, enter the amounts requested into the Excel spreadsheet template. (14 points) a. Some items require amounts from the current year only, while inventory and total stockholders' equity require both the current year and the previous year. b. Amounts for annual dividends and market price of GAP stock have been entered into cells Q9 and Q10, respectively). 2. Compute the ratios requested in the Excel template using the formulas in the text (see Exhibit 14-6). ( 9 points) NOTE: ratios presented in various online sites for GAP may differ from those you compute, as some websites may adjust formulas and/or omit items from some calculations (i.e., some ratios have a few variations with regard to alternative calculations). Points for this assignment will be based on: - Using amounts from the specific financial statements provided - Computing ratios using the specific formulas in Chapter 14 (a summary of the Chapter 14 formulas is in Exhibit 14-6, pages 680-681 - in the text) - be sure spreadsheet presents all computations to two decimal places