Gap, Inc. is a leading global specialty apparel company with 3,263 Company-operated and franchise store locations in 2012. The company was established in 1969 and has several well-known brand names such as Gap, Banana Republic, and Old Navy. Excerpts from the company€™s annual report for the fiscal year ended January 28, 2012, are in Exhibit 17-9 . Gap paid cash dividends of $ .45 per common share in fiscal 2012, and an average of 529 million shares were outstanding during the year.
Assume that Gap has no stock options or convertible securities. The company€™s market price on January 28, 2012, was $18.93 per share. Compute the following financial ratios for fiscal 2012:
1. Current ratio
2. Total debt to equity
3. Gross profit rate
4. Return on sales
5. Return on stockholders€™ equity
6. Earnings per share
7. Price earnings
8. Dividend yield
9. Dividendpayout

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Income statement for the year ended January 28, 2012 Net sales Cost of sales Gross profit Operating expenses Operating income Interest expenses, net Income before income taxes Income taxes Net income $14,549 9,275 5,274 3,836 1,438 69 1,369 536 833 Balance sheet Assets January 28, 2012 January 29, 2011 Cash and cash equivalents Inventories Other current assets (summarized) Total current assets Property and equipment (net) Other assets Total assets $ 1,885 1,615 809 4,309 2,523 590 7,422 $1,561 1,620 745 $3,926 2,563 576 $7,065 Liabilities and stockholders' equity Current liabilities (summarized) Long-term liabilities (summarized) Total liabilities Stockholders' equity (summarized) Total liabilities and stockholders' equity s 2,128 2,539 4,667 2,755 7,422 $2,095 890 $2,985 4,080 $7,065 Exhibit 17-9