Use the Annual Report for the fiscal year ended 2021 provided by Gap, answer the following questions
Objectives - Locace specific financial accounting information in the Gap Inc. (Gap) 2021 Anoual Report. - Calculate various linancial ratios and interprel. - Gain a berter understaoding of the financial aspects of Gap's yctail business. Instructions 1. Locnte Gnp loc,'s 2021 Annunl Report (for fiscal year-ending 1/29/22) which bas been posted to Brightspace. 2. There are 10 sections of questions. You will lind the information nocessary to answer the questions in "Item 8. Financial Statements and Supplementary Data," of the report. Read the questions earefully and ansswer in the space provided 3. Please sulhmit your project under the assignment module that is laleeled "Anoual Report" in Brightspace. It is preferable that if you have word, you type io your responses aad submit as a word document. If not, you can ase the fillable PDF form that bas been provided, and type in your responses and upload the PDF form. No JPG files please. Late projects will not be accepted. Section 1. Balanee Sbect - Overvicw 1. What are the following amounts at 1,29:22: a. Tatal Assets b. Total Liabilitics c. Total Owner's Equity 2. At liseal year entied 2021: a. What is the percintage of debt used to finanee Gap? b. What is the percentnge of owner's equity used to fibnoe Gap? c. What is the signilicince of these two percentiges? 3. At 1:29:22: Section 5. Noncurrent Assets a. What percentage of Gap's total assets are current asscts? 1. What is the amount of Noncurent Assets at 1/29:22 ? b. What peccentnge of Gap's total assets are nobeursent assets? 2. What is the armount of Pronerly and Equipment (net) held by Giap at 1/29,22" a. How much depreciation has been roooded on these assets at 1/29/22 ? b. What method does Gnp use to ca]culate depreciation? 3. What is the amount of Furniture and Equipoent hedd by Gap at 1/29/22? Section 2. Iacome Statement - Overview Section 6. Current Liabilities 1. Is Cap's income staternent presented in a single-step or multiple-step firmat?? Why do you think that format was uscd? 1. What is the amount of Current Liabilitics at 1/29/22? 2. What are the following amounts tor the year ented 1/24;22: a. Accounts Payable 2. What are the following ambunts for the hiscal year ended 21021: Section 7. Noncurrent I.iubilities a.NetSalesb.CastofGicoulsSoldc.GrussMargind.GrossMarginPerocutagec.OperatiogIncomef.NetInosue 1. What is the arnount of Noncurent Labbilities at 1/29/22 ? 2. How much of Gap's long-tern debt will bucone due and payable in less than 1 year? Sect' , Section 3, Cash Flow Stutement - Overview 1.. 1. What are the following amounts for the fiscal year cided 2021: a. Casb flow's from operating activities b. Cash flows from investing awtivities c. Cast flows from hinancing activitios Section 4. Current Assets 1. What is the amoumt of Current Assets at 1:29:22\% 2. What was the aumount of dividends paid to shareholdeers during FY 2021 ? 2. What is the amount of Inventories at l/29/22? Sectlon 9. Other Information a. What valuation principle does Gap use to value these inventories? Locale the following inforrnation in the Gap 2021 Annual Report: b. Which cost flow assumption does Gap use to detemioe the cost of inveatories? a. Name of Gap's CEO b. Name of Gap's CFO c. Stock symbol an the New York Swock Exchange (NYSE) Objectives - Locace specific financial accounting information in the Gap Inc. (Gap) 2021 Anoual Report. - Calculate various linancial ratios and interprel. - Gain a berter understaoding of the financial aspects of Gap's yctail business. Instructions 1. Locnte Gnp loc,'s 2021 Annunl Report (for fiscal year-ending 1/29/22) which bas been posted to Brightspace. 2. There are 10 sections of questions. You will lind the information nocessary to answer the questions in "Item 8. Financial Statements and Supplementary Data," of the report. Read the questions earefully and ansswer in the space provided 3. Please sulhmit your project under the assignment module that is laleeled "Anoual Report" in Brightspace. It is preferable that if you have word, you type io your responses aad submit as a word document. If not, you can ase the fillable PDF form that bas been provided, and type in your responses and upload the PDF form. No JPG files please. Late projects will not be accepted. Section 1. Balanee Sbect - Overvicw 1. What are the following amounts at 1,29:22: a. Tatal Assets b. Total Liabilitics c. Total Owner's Equity 2. At liseal year entied 2021: a. What is the percintage of debt used to finanee Gap? b. What is the percentnge of owner's equity used to fibnoe Gap? c. What is the signilicince of these two percentiges? 3. At 1:29:22: Section 5. Noncurrent Assets a. What percentage of Gap's total assets are current asscts? 1. What is the amount of Noncurent Assets at 1/29:22 ? b. What peccentnge of Gap's total assets are nobeursent assets? 2. What is the armount of Pronerly and Equipment (net) held by Giap at 1/29,22" a. How much depreciation has been roooded on these assets at 1/29/22 ? b. What method does Gnp use to ca]culate depreciation? 3. What is the amount of Furniture and Equipoent hedd by Gap at 1/29/22? Section 2. Iacome Statement - Overview Section 6. Current Liabilities 1. Is Cap's income staternent presented in a single-step or multiple-step firmat?? Why do you think that format was uscd? 1. What is the amount of Current Liabilitics at 1/29/22? 2. What are the following amounts tor the year ented 1/24;22: a. Accounts Payable 2. What are the following ambunts for the hiscal year ended 21021: Section 7. Noncurrent I.iubilities a.NetSalesb.CastofGicoulsSoldc.GrussMargind.GrossMarginPerocutagec.OperatiogIncomef.NetInosue 1. What is the arnount of Noncurent Labbilities at 1/29/22 ? 2. How much of Gap's long-tern debt will bucone due and payable in less than 1 year? Sect' , Section 3, Cash Flow Stutement - Overview 1.. 1. What are the following amounts for the fiscal year cided 2021: a. Casb flow's from operating activities b. Cash flows from investing awtivities c. Cast flows from hinancing activitios Section 4. Current Assets 1. What is the amoumt of Current Assets at 1:29:22\% 2. What was the aumount of dividends paid to shareholdeers during FY 2021 ? 2. What is the amount of Inventories at l/29/22? Sectlon 9. Other Information a. What valuation principle does Gap use to value these inventories? Locale the following inforrnation in the Gap 2021 Annual Report: b. Which cost flow assumption does Gap use to detemioe the cost of inveatories? a. Name of Gap's CEO b. Name of Gap's CFO c. Stock symbol an the New York Swock Exchange (NYSE)
