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Mini-Case In the introduction to this chapter, we described the situation faced by The Gap, Inc. (GPS). We learned that the retail clothing chain had

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Mini-Case In the introduction to this chapter, we described the situation faced by The Gap, Inc. (GPS). We learned that the retail clothing chain had grown dramatically over the first two decades of its existence but had fallen on difficult times in 2007. Assume that you have been hired as a new management trainee by the corporate offices of Gap in the spring of 2009 and that you report directly to the director of sales and marketing. Although your job is not specifically in finance, your boss is a major contributor to the firm's overall financial success and wants you to familiarize yourself with the firm's recent financial performance. Specifically, she has asked that you review the following income statements for the years 2005-2008. You are to review the firm's revenue, gross profit, operating income, and net income trends over these four years

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