GAP Inc.

Comparative Balance Sheets
Gap Inc.’s 2006 balance sheet under assets shows a significant increase in the combined merchandise inventory and other current assets of $188 million and a slight decrease in their cash and cash equivalent by $5 million. Their short-term investment and restricted cash plunged -40% and -20% respectively losing $393 million. This was a result of Gap Inc.’s repurchasing their common stock shares and an increased in their capital expenditures. Common stock repurchases increased Treasury stock 19.8% or $1 billion; dropping outstanding shares to 43,116 from the previous year. Additional paid-in capital increased by a healthy $229 million at the same time decreasing long-term debt by -63% or $325 million as a result of the repurchase plan. Gap Inc.’s decrease in income tax payables to -81% for a savings of $69 million resulted from favorable tax rate settlement. Accrued expenses which comprises of payroll and related benefits, deferred rent......

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Title: Gap Inc Future
Approximate Word Count: 652
Approximate Pages: 3 (250 words per double-spaced page)

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