Gap Inc.'s Sales, Cost of Goods Sold, and Gross Profit Required: 1. Gap Inc. does not include accounts receivable on its balance sheet, most likely due to 2. Identify and analyze the transaction to record sales during the year ended January 30,2016. How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank or enter "0". If the effect is negative, use the minus sign. Enter amounts in millions of dollars. For example, 12,400,000,000 would be entered as 12,400 . 5. Calculate the gross profit ratios for Gap Inc. for 2015 and 2014. If required, round the percentage to one decimal place. Is the company's performance improving