Excerpted financial information from the records of The Gap Inc
Excerpted financial information from the records of The Gap Inc., a major clothing retailer, follows (dollars in millions):


a. Compute the current ratio for each year.
b. Compute the gross margin for each year.
c. Compute inventory turnover and inventory days for 2011 and 2012; compute accounts payable turnover and accounts payable days for 2011 and 2012.
d. Comment on the company’s solvencytrend.
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