Conduct a financial analysis for Costco, using both common-sized statements and ratios over each year provided in Exhibit 1. Then use the data in Exhibits 5 and 6 to do as much of a cross-sectional analysis as possible.

  
 
 
 

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EXHIBIT 1 Selected Financial and Operating Data for Costco Wholesale Corp., Fiscal Years 2016-2019 ($ in millions, except for per share data) Fiscal Years Ending Sept. 2, 2018 Sept. 3, 2017 Aug. 28, 2016 $138,434 $126,172 $116,073 3,142 2,853 2,646 141,576 129,025 118,719 Selected Income Statement Data Net sales Membership fees Total revenue Operating expenses Merchandise costs Selling, general and administrative Preopening expenses Provision for impaired assets and store closing costs Total operating expenses Operating income Other income (expense) Interest expense Interest Income and other, net Income before income taxes Provision for Income taxes Net Income attributable to Costco Diluted net Income per share Dividends per share (not including special dividend of $7.00 in 2017 and $5.00 in 2015) Millions of shares used in per share calculations Sept. 1, 2019 $149,351 3,352 152,703 132,886 14,994 86 147,966 4,737 $ $ $ (150) 178 4,765 1,061 3,659 8.26 2.44 442.9 123,152 13,876 68 137,096 4,480 (159) 121 4,442 1,263 $ 3,134 $ 7.09 $ 2.14 441.8 111,882 12,950 82 124,914 4,111 (134) 62 4,039 1,325 $ 2,679 $ 6.08 $ 1.90 440.9 102,901 12,068 78 115,047 3,672 (133) 80 3,619 1,243 $ 2,350 $ 5.33 $ 1.70 441.3 EXHIBIT 1 Selected Financial and Operating Data for Costco Wholesale Corp., Fiscal Years 2016-2019 ($ in millions, except for per share data) Fiscal Years Ending Sept. 2, 2018 Sept. 3, 2017 Aug. 28, 2016 $138,434 $126,172 $116,073 3,142 2,853 2,646 141,576 129,025 118,719 Selected Income Statement Data Net sales Membership fees Total revenue Operating expenses Merchandise costs Selling, general and administrative Preopening expenses Provision for impaired assets and store closing costs Total operating expenses Operating income Other income (expense) Interest expense Interest Income and other, net Income before income taxes Provision for Income taxes Net Income attributable to Costco Diluted net Income per share Dividends per share (not including special dividend of $7.00 in 2017 and $5.00 in 2015) Millions of shares used in per share calculations Sept. 1, 2019 $149,351 3,352 152,703 132,886 14,994 86 147,966 4,737 $ $ $ (150) 178 4,765 1,061 3,659 8.26 2.44 442.9 123,152 13,876 68 137,096 4,480 (159) 121 4,442 1,263 $ 3,134 $ 7.09 $ 2.14 441.8 111,882 12,950 82 124,914 4,111 (134) 62 4,039 1,325 $ 2,679 $ 6.08 $ 1.90 440.9 102,901 12,068 78 115,047 3,672 (133) 80 3,619 1,243 $ 2,350 $ 5.33 $ 1.70 441.3

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Ill guide you through a financial analysis of Costco using commonsized statements and ratios for the fiscal years 2016 to 2019 as provided in Exhibit ... View the full answer