Question: Type in your name here: ***You must use cell references to earn credit. GAP Inc. Dollar amounts in Millions $ Percentages Common-Size Balance Sheet Jan.
| Type in your name here: | ***You must use cell references to earn credit. | |||
| GAP Inc. | Dollar amounts in Millions $ | Percentages | ||
| Common-Size Balance Sheet | Jan. 28, 2023 | Jan. 29, 2022 | Jan. 28, 2023 | Jan. 29, 2022 |
| Current assets: | ||||
| Cash and cash equivalents | $ 1,215 | $ 877 | 10.67% | 6.87% |
| Merchandise inventory | 2,389 | 3,018 | 20.98% | 23.65% |
| Other current assets | 1,013 | 1,270 | 8.90% | 9.95% |
| Total current assets | 4,617 | 5,165 | 40.55% | 40.47% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | 4,837 | 5,071 | 42.48% | 39.74% |
| Property and equipment, net of accumulated depreciation | 2,688 | 3,037 | 23.61% | 23.80% |
| Operating lease assets | 3,173 | 3,675 | 27.87% | 28.80% |
| Other long-term assets | 908 | 884 | 7.97% | 6.93% |
| Total assets | $ 11,386 | $ 12,761 | 100.00% | 100.00% |
| Current liabilities: | ||||
| Accounts payable | 1,320 | 1,951 | 11.59% | 15.29% |
| Accrued expenses and other current liabilities | 1,219 | 1,367 | 10.71% | 10.71% |
| Current portion of operating lease liabilities | 667 | 734 | 5.86% | 5.75% |
| Income taxes payable | 50 | 25 | 0.44% | 0.20% |
| Total current liabilities | 3,256 | 4,077 | 28.60% | 31.95% |
| Long-term liabilities: | ||||
| Line of Credit Facility, Amount Outstanding | 350 | 0 | 3.07% | 0.00% |
| Long-term debt | 1,486 | 1,484 | 13.05% | 11.63% |
| Long-term operating lease liabilities | 3,517 | 4,033 | 30.89% | 31.60% |
| Other long-term liabilities | 544 | 445 | 4.78% | 3.49% |
| Total long-term liabilities | 5,897 | 5,962 | 51.79% | 46.72% |
| Stockholders' equity: | #VALUE! | #VALUE! | ||
| Common stock $0.05 par value, Authorized 2,300 shares for all periods presented | 18 | 19 | 0.16% | 0.15% |
| Additional Paid in Capital | 27 | 43 | 0.24% | 0.34% |
| Retained earnings | 2,140 | 2,622 | 18.80% | 20.55% |
| Accumulated other comprehensive income | 48 | 38 | 0.42% | 0.30% |
| Total stockholders' equity | 2,233 | 2,722 | 19.61% | 21.33% |
| Total liabilities and stockholders' equity | $ 11,386 | $ 12,761 | 100.00% | 100.00% |
| Answer the following questions based on the most recent year. | ||||
| a. What are the companys 2 largest assets? | ||||
| b. What are the companys 2 largest liabilities? | ||||
| c. What percentage of total assets is financed by owners? | ||||
| d. What percentage of total assets is financed by creditors? | ||||
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