Objectives Locate specific financial accounting information in the Gap Inc. (Gap) 2021 Annual Report.Calculate various financial ratios and interpret.Gain a better understanding of the financial aspects of Gaps retail business. Section 1. Balance Sheet - Overview __________________ __________________ __________________ 1.What are the following amounts at 1/29/22: a.Total Assetsb.Total Liabilitiesc. Total Owners Equity 2. At fiscal year ended 2021: a.What is the percentage of debt used to finance Gap? ____________ b.What is the percentage of owners equity used to finance Gap? What are the following amounts for the fiscal year ended 2021: a.Net Sales____________ b.Cost of Goods Sold____________ c.Gross Margin____________ d.Gross Margin Percentage ____________ e.Operating Income____________ f.Net Income____________ Section 3. Cash Flow Statement - Overview _______________ _______________ 1.What are the following amounts for the fiscal year ended2021: a.Cash flows from operating activities b.Cash flows from investing activities c.Cash flows from financing activities_______________ What is the amount of Noncurrent Assets at 1/29/22? _______________ 2.What is the amount of Property and Equipment (net) held by Gap at 1/29/22? _______________ a.How much depreciation has been recorded on these assets at 1/29/22? _______________ b.What method does Gap use to calculate depreciation? _______________________ 3.What is the amount of Furniture and Equipment held by Gap at 1/29/22? _______________ Section 6. Current Liabilities 1.What is the amount of Current Liabilities at 1/29/22? _______________ 2.What are the following amounts for the year ended 1/29/22: a.Accounts Payable _______________ b.Current ratio_______________ Section 7. Noncurrent Liabilities 1.What is the amount of Noncurrent Liabilities at 1/29/22? _______________ 2.How much of Gaps long-term debt will become due and payable in less than 1 year? Section 8. Shareholders Equity 1..At 1/29/22: How many shares of common stock are:(a)authorized_______________ (b)issued_______________ (c)outstanding_______________ How many shares of preferred stock are: (a) authorized _______________ (b)issued_______________ (c)outstanding_______________ 2. What was the amount of dividends paid to shareholders during FY 2021? _______________ Section 9. Other Information Locate the following information in the Gap 2021 Annual Report: a.Name of Gaps CEO __________________ b.Name of Gaps CFO __________________ c.Stock symbol on the New York Stock Exchange (NYSE) ___________________ d.Independent accountants (auditors) _________________________