arse Costco Common Size Balance Sheet & Income Statement Assignment Due 2/3/2021 by 5PM Submit Assignmer...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
arse Costco Common Size Balance Sheet & Income Statement Assignment Due 2/3/2021 by 5PM Submit Assignmer Due Wednesday by 5pm Points 125 Submitting a file upload File Types xls, pdf, and xlsx Here is a link to Costco's 2020 Annual Report: Link To Costco 2020 10-K/Annual Report e Here is a video that shows you how to find the financial statements needed for Costco: Link You can always find the financial statements in Item 8 "Financial Statements" of a Form 10-K. Complete the common-size Balance Sheet for 2020 & 2019 and the Income Statement 2020, 2019 and 2018 (areas highlighted in yellow must be completed for each worksheet and will need either: 1) Excel formulas or 2) the number inputted that you derived for each item using a calculator). I encourage you all to try and learn how to use the simple formula in Excel. Here is the worksheet template: Costco Ratio & CS Project Student Worksheet Spring 2021.xlsx Ⓒ Ratio Analysis Summary PDF to use for Ratio Calculations: Ratio Analysis Summary.pdf 4 5 678 7 REVENUE 8 Net sales 9 Membership fees 10 Total revenue 11 OPERATING EXPENSES 12 Merchandise costs 13 Selling, general and administrative 14 Preopening expenses 15 Operating income 16 OTHER INCOME (EXPENSE) 17 Interest expense 18 Interest income and other, net 19 INCOME BEFORE INCOME TAXES 20 Provision for income taxes 21 Net income including noncontrolling interests 22 Net income attributable to noncontrolling interests 23 NET INCOME ATTRIBUTABLE TO COSTCO 24 NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: 25 Basic 26 Diluted 27 Shares used in calculation (000's) 28 Basic 29 Diluted 30 31 32 Check To See If You Did It Correctly (Must add to 100%) 33 34 35 36 52 Weeks Ended August 30, 2020 $ $ $ $ 163,220 3,541 166,761 144,939 16,332 55 5,435 (160) 92 5,367 1,308 4,059 (57) 4,002 9.05 9.02 442,297 443,901 100.0% 3.2% 52 Weeks Ended September 1, 2019 0% $ 2.4% $ $ $ 149,351 3,352 152,703 132,886 14,994 86 4,737 (150) 178 4,765 1,061 3,704 (45) 3,659 8.32 8.26 439,755 442,923 100.0% 3.1% 52 Weeks Ended 0% September 2, 2018 $ 2,4% $ $ $ 138,434 3,142 141,576 123,152 13,876 68 4,480 (159) 121 4,442 1,263 3,179 (45) 3,134 7.15 7.09 438,515 441,834 100.0% 3.1% 2.2% 0% 1 CONSOLIDATED BALANCE SHEETS 2 3 ASSETS 4 CURRENT ASSETS 5 Cash and cash equivalents 6 Short-term investments 7 Receivables, net 8 Merchandise inventories 9 Other current assets 10 Total current assets 11 OTHER ASSETS 12 Property and equipment, net 13 Operating lease right-of-use assets 14 Other long-term assets 15 TOTAL ASSETS 16 LIABILITIES AND EQUITY 17 CURRENT LIABILITIES 18 ounts payabl 19 Accrued salaries and benefits 20 Accrued member rewards 21 Deferred membership fees 22 Current portion of long term debt 23 Other current liabilities 24 Total current liabilities 25 OTHER LIABILITIES 26 Long term debt, excluding current portion 27 Long-term operating lease liabilities 28 Other long-term liabilities 29 TOTAL LIABILITIES 30 COMMITMENTS AND CONTINGENCIES 31 EQUITY 32 Preferred stock $0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding 33 Common stock $0.01 par value, 900,000,000 shares authorized; 441,255,000 and 439,625,000 shares issued a 34 Additional paid-in capital 35 Accumulated other comprehensive loss 36 Retained earnings 37 Total Costco stockholders' equity 38 Noncontrolling interests 39 Total equity 40 TOTAL LIABILITIES AND EQUITY 41 Must add up to 100% 42 43 August 30, 2020 $ $ S $ 12,277 1,028 1,550 12,242 1,023 28,120 21,807 2,788 2,841 55,556 14,172 3,605 1,393 1,851 95 3,728 24,844 7,514 2,558 1,935 36,851 6 0 4 698 (1,297) 12,879 18,284 421 18,705 55,556 51% 45% 51% $ 45% 33% September 1, 2020 33% 78% 5 $ $ 8,384 1,060 1,535 11,395 1,111 23,485 20,890 0 1,025 45,400 11,679 3,176 1,180 1,711 1,699 3,792 23,237 5,124 0 1,455) 29,816 0 4 6,417 (1.436) 10,258 15,243 341 15,584 45,400 18% 2% 3% 25% 2% 52% 52% 51% 51% 34% 34% 855 REVENUE Net sales Membership fees Total revenue OPERATING EXPENSES Merchandise costs Selling, general and administrative Preopening expenses Operating income OTHER INCOME (EXPENSE) Interest expense Interest income and other, net INCOME BEFORE INCOME TAXES Provision for income taxes Net income including noncontrolling interests Net income attributable to noncontrolling interests COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF INCOME (amounts in millions, except per share data) NET INCOME ATTRIBUTABLE TO COSTCO NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: Basic Diluted Shares used in calculation (000's) Basic Diluted 52 Weeks Ended August 30, 2020 163,220 3,541 166,761 144,939 16,332 55 5,435 (160) 92 5,367 1,308 4.059 (57) 4,002 9.05 9.02 442,297 443,901 $ $ $ $ 52 Weeks Ended September 1, 2019 149,351 3,352 152,703 132,886 14,994 86 4,737 (150) 178 4,765 1,061 3,704 (45) 3,659 $ 8.32 $ 8.26 $ 439,755 442,923 52 Weeks Ended September 2, 2018 138,434 3,142 141,576 123,152 13,876 68 4,480 (159) 121 4,442 1,263 3,179 (45) 3,134 7.15 7.09 438,515 441,834 arse Costco Common Size Balance Sheet & Income Statement Assignment Due 2/3/2021 by 5PM Submit Assignmer Due Wednesday by 5pm Points 125 Submitting a file upload File Types xls, pdf, and xlsx Here is a link to Costco's 2020 Annual Report: Link To Costco 2020 10-K/Annual Report e Here is a video that shows you how to find the financial statements needed for Costco: Link You can always find the financial statements in Item 8 "Financial Statements" of a Form 10-K. Complete the common-size Balance Sheet for 2020 & 2019 and the Income Statement 2020, 2019 and 2018 (areas highlighted in yellow must be completed for each worksheet and will need either: 1) Excel formulas or 2) the number inputted that you derived for each item using a calculator). I encourage you all to try and learn how to use the simple formula in Excel. Here is the worksheet template: Costco Ratio & CS Project Student Worksheet Spring 2021.xlsx Ⓒ Ratio Analysis Summary PDF to use for Ratio Calculations: Ratio Analysis Summary.pdf 4 5 678 7 REVENUE 8 Net sales 9 Membership fees 10 Total revenue 11 OPERATING EXPENSES 12 Merchandise costs 13 Selling, general and administrative 14 Preopening expenses 15 Operating income 16 OTHER INCOME (EXPENSE) 17 Interest expense 18 Interest income and other, net 19 INCOME BEFORE INCOME TAXES 20 Provision for income taxes 21 Net income including noncontrolling interests 22 Net income attributable to noncontrolling interests 23 NET INCOME ATTRIBUTABLE TO COSTCO 24 NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: 25 Basic 26 Diluted 27 Shares used in calculation (000's) 28 Basic 29 Diluted 30 31 32 Check To See If You Did It Correctly (Must add to 100%) 33 34 35 36 52 Weeks Ended August 30, 2020 $ $ $ $ 163,220 3,541 166,761 144,939 16,332 55 5,435 (160) 92 5,367 1,308 4,059 (57) 4,002 9.05 9.02 442,297 443,901 100.0% 3.2% 52 Weeks Ended September 1, 2019 0% $ 2.4% $ $ $ 149,351 3,352 152,703 132,886 14,994 86 4,737 (150) 178 4,765 1,061 3,704 (45) 3,659 8.32 8.26 439,755 442,923 100.0% 3.1% 52 Weeks Ended 0% September 2, 2018 $ 2,4% $ $ $ 138,434 3,142 141,576 123,152 13,876 68 4,480 (159) 121 4,442 1,263 3,179 (45) 3,134 7.15 7.09 438,515 441,834 100.0% 3.1% 2.2% 0% 1 CONSOLIDATED BALANCE SHEETS 2 3 ASSETS 4 CURRENT ASSETS 5 Cash and cash equivalents 6 Short-term investments 7 Receivables, net 8 Merchandise inventories 9 Other current assets 10 Total current assets 11 OTHER ASSETS 12 Property and equipment, net 13 Operating lease right-of-use assets 14 Other long-term assets 15 TOTAL ASSETS 16 LIABILITIES AND EQUITY 17 CURRENT LIABILITIES 18 ounts payabl 19 Accrued salaries and benefits 20 Accrued member rewards 21 Deferred membership fees 22 Current portion of long term debt 23 Other current liabilities 24 Total current liabilities 25 OTHER LIABILITIES 26 Long term debt, excluding current portion 27 Long-term operating lease liabilities 28 Other long-term liabilities 29 TOTAL LIABILITIES 30 COMMITMENTS AND CONTINGENCIES 31 EQUITY 32 Preferred stock $0.01 par value; 100,000,000 shares authorized, no shares issued and outstanding 33 Common stock $0.01 par value, 900,000,000 shares authorized; 441,255,000 and 439,625,000 shares issued a 34 Additional paid-in capital 35 Accumulated other comprehensive loss 36 Retained earnings 37 Total Costco stockholders' equity 38 Noncontrolling interests 39 Total equity 40 TOTAL LIABILITIES AND EQUITY 41 Must add up to 100% 42 43 August 30, 2020 $ $ S $ 12,277 1,028 1,550 12,242 1,023 28,120 21,807 2,788 2,841 55,556 14,172 3,605 1,393 1,851 95 3,728 24,844 7,514 2,558 1,935 36,851 6 0 4 698 (1,297) 12,879 18,284 421 18,705 55,556 51% 45% 51% $ 45% 33% September 1, 2020 33% 78% 5 $ $ 8,384 1,060 1,535 11,395 1,111 23,485 20,890 0 1,025 45,400 11,679 3,176 1,180 1,711 1,699 3,792 23,237 5,124 0 1,455) 29,816 0 4 6,417 (1.436) 10,258 15,243 341 15,584 45,400 18% 2% 3% 25% 2% 52% 52% 51% 51% 34% 34% 855 REVENUE Net sales Membership fees Total revenue OPERATING EXPENSES Merchandise costs Selling, general and administrative Preopening expenses Operating income OTHER INCOME (EXPENSE) Interest expense Interest income and other, net INCOME BEFORE INCOME TAXES Provision for income taxes Net income including noncontrolling interests Net income attributable to noncontrolling interests COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF INCOME (amounts in millions, except per share data) NET INCOME ATTRIBUTABLE TO COSTCO NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: Basic Diluted Shares used in calculation (000's) Basic Diluted 52 Weeks Ended August 30, 2020 163,220 3,541 166,761 144,939 16,332 55 5,435 (160) 92 5,367 1,308 4.059 (57) 4,002 9.05 9.02 442,297 443,901 $ $ $ $ 52 Weeks Ended September 1, 2019 149,351 3,352 152,703 132,886 14,994 86 4,737 (150) 178 4,765 1,061 3,704 (45) 3,659 $ 8.32 $ 8.26 $ 439,755 442,923 52 Weeks Ended September 2, 2018 138,434 3,142 141,576 123,152 13,876 68 4,480 (159) 121 4,442 1,263 3,179 (45) 3,134 7.15 7.09 438,515 441,834
Expert Answer:
Answer rating: 100% (QA)
52 week ended 52 week ended 52 week ended August 312020 September 12019 September 12018 REVENUE Sales 163220 9788 149351 9780 138434 9778 Membership f... View the full answer
Related Book For
Financial Management Theory And Practice
ISBN: 978-0176583057
3rd Canadian Edition
Authors: Eugene Brigham, Michael Ehrhardt, Jerome Gessaroli, Richard Nason
Posted Date:
Students also viewed these accounting questions
-
The financial statement column should be identified as Balance Sheet Income Statement or Retained Earnings The classification column should be identified as current liabilities noncurrent liabilities...
-
Find the financial statements of a publicly traded company and review its statement of cash flows. Of the company's cash flows from operating activities, investing activities, and financing...
-
Consider the following financial statement data: Balance Sheet Income Statement Sales $100 Cost of goods sold 50 Gross profit 50 Operating expenses 14 Income from operations 36 Less: Interest 6...
-
trade on the common stock of Taz, Inc. that have a strike price of $ 51.00 and a premium of $ 1.00 . In each of the next four parts, calculate the net profit (or loss) on the option position. Note:...
-
The text focuses on budgets for organizations that have revenues and expenses. Suppose you were the manager of a research and development division of a biotech company that has no revenue. How would...
-
A piston/cylinder arrangement contains air at 250 kPa, 300C. The 50-kg piston has a diameter of 0.1 m and initially pushes against the stops. The atmosphere is at 100 kPa and 20C. The...
-
Tyler Company reported the following costs on its financial statements (in thousands): REQUIRED: Using the reserve disclosure for Tyler Company in problem 13 and the data presented in this problem,...
-
Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $ 480,000 cost with an expected four- year life and a $ 20,000...
-
Cash Receipt Schemes and Other Asset Misappropriations, identify and describe two big data and data analytic techniques each for detecting skimming, cash larceny, and noncash misappropriations.
-
The diagram shows a window made from a rectangle with base 2r m and height h m and a semicircle of radius r m. The perimeter of the window is 6 m and the surface area is A m 2 . a. Express h in terms...
-
Explain GOTO statement by example
-
The ability of any organization to play its roles can be judged by considering organization aims or aspirations of the Operations function; Identify and briefly explain the Four (4)Hayes and...
-
What is the strength of the magnetic field at point P in (Figure 1)? Assume that I = 6.0 A, r = 1.3 cm, and r = 2.6 cm Express your answer with the appropriate units. View Available Hint(s) B = HT ?
-
Do the curves of y = x and y = cross at right angles? Explain 1
-
What is contracting in procurement? What is centralized procurement or contracting? What is decentralized procurement or contracting? What is a procurement statement of work? Give two advantages and...
-
Current ratio and quick ratio are two measures of liquidity for a company. 7. If a company holds a return on assets of 47.6%, they are earning .476 cents on every dollar of assets. 8. If a company...
-
SIROM Scientific Solutions has $5 million of outstanding equity and $5 million of bank debt. The bank debt costs 4% per year. The estimated equity beta is 2. If the market risk premium is 6% and the...
-
What is the back work ratio? What are typical back work ratio values for gas-turbine engines?
-
Qbit Technology is considering changes in its working capital policies to improve its cash flow cycle. Qbit's sales last year were $3,250,000 (all on credit), and its net profit margin was 7%. Its...
-
The market and Stock J have the following probability distributions: a. Calculate the expected rates of return for the market and Stock J. b. Calculate the standard deviations for the market and...
-
a. Describe briefly the legal rights and privileges of common shareholders. b. 1. Write out a formula that can be used to value any stock, regardless of its dividend pattern. 2. What is a constant...
-
A strain rosette consisting of three strain gauges was used to measure the strains at a point in a thin plate of dimensions \(100 \times 20 \times 1 \mathrm{~mm}\). The measured strains in the three...
-
A particle of mass \(m\) slides inside a smooth hemispherical bowl of radius \(R\). Beginning with spherical coordinates \(r, \theta\) and \(\varphi\) to describe the dynamics, select generalized...
-
A small block of mass \(m\) and a weight of mass \(M\) are connected by a string of length \(D\). The string has been threaded through a small hole in a tabletop, so the block can slide without...
Study smarter with the SolutionInn App