uick ratio The Gap Inc. (GPS) operates specialty retail stores under such brand names as GAP, Old Navy, and Banana Republic. The following asset and liability data (in millions) were adapted from recent financial statements. Year 2 Year 1 Current assets Cash Accounts receivable Inventory Prepaid and other current assets Total current assets Total current $1,783 $1,783 282 335 1,997 1,830 367 14,560 54.335 $2,461 $2,453 1. Compute quick assets for Years 2 and 1. Year 2 Quick Assets 2. Compute the quick ratio for Years 2 and 1. Round your answers to two decimal places. Year 2 Quick Ratio Year 1 3. The Gap's quick assets have j by from Year 1 to Year 2. Its quick ratio during Year 2. Overall, The Gap's liquidity position has from Year 1 to Year 2