Question: How do I solve this question Q 10 To answer the questions below, refer to the following disclosures for the warehouse club retailer: The Company

How do I solve this question

How do I solve this question Q 10 To answer the questions

Q 10 To answer the questions below, refer to the following disclosures for the warehouse club retailer: "The Company accounts for membership fee revenue, net of refunds, on a deferred basis, ratably over the one-year membership..." 52 Weeks Ended 53 Weeks Ended 52 Weeks Ended September 2, September 3, August 28, 2018 2017 2016 REVENUE Net sales 138,434 $ 126,172 $ 116,073 Membership fees 3.142 2,853 2,646 Total revenue 141.576 129,025 118,719 OPERATING EXPENSES Merchandise costs 123 152 111,682 102,901 Selling, general and administrative 13.876 12,950 12,068 Preopening expenses 78 Operating income 4.480 4,111 3,672 What is the gross profit on "product sales' for the fiscal year ending September 2, 2018. Note: your answer should be formatted as a whole number without currency symbols or punctuation

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