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	$1,783	$1,783
Accounts receivable	282	335
Inventory	1,997	1,830
Prepaid and other current assets	506	367
Total current assets	$4,568	$4,315
Total current liabilities	$2,461	$2,453

1. Compute quick assets for Years 2 and 1.
2. Compute the quick ratio for Years 2 and 1. Round to two decimal places.
3. Analyze and assess any changes in liquidity for Years 2 and 1.

MBA 3-6 Quick 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. 1. Compute quick assets for Years 2 and 1. 2. Compute the quick ratio for Years 2 and 1. Round to two decimal places. 3. Analyze and assess any changes in liquidity for Years 2 and 1