please answer question a, b,c, d, e, f

Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) September 2, 2018 Total revenue $141,576 Operating expenses Merchandise costs 123,152 Selling, general and administrative 13,876 Preopening expenses 68 Operating Income 4,480 Other income (expense) Interest expense 159 Interest income and other, net (121) 4,442 Income before income taxes 1,263 Provision for income taxes 3,179 Net income including noncontrolling interests (45) Net income attributable to noncontrolling interests $3,134 Net income attributable to Costco Costco Wholesale Corporation Consolidated Balance Sheets ($ millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets $6,055 $4,546 1,233 1,204 1,669 1,432 11,040 9,834 321 272 17,317 20,289 19,681 18,161 869 860 $40,830 $36,347 $11,237 $9,608 2,703 Cash and cash equivalents Short-term investments Receivables, net Merchandise inventories Other current assets Total current assets Net property and equipment Other assets Total assets Current liabilities Accounts payable Accrued salaries and benefits Accrued member rewards Deferred membership fees Other current liabilities Total current liabilities Long-term debt Other liabilities Total liabilities Equity Preferred stock $0.01 par value: Common stock $0.01 par value: Additional paid-in-capital 961 2.994 1,057 1,624 3,014 1,498 2.725 17.495 19,926 6,487 6,573 1,314 1,200 27.727 25,268 0 4 6.107 5.800 104) 7.87 5. 10.77 Accumulated other comprehensive Retained earnings Total Costco stockholders' equity Noncontrolling interests Total equity Total liabilities and equity 12.799 304 12103 540,830 301 11.079 (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. (Round your answer to the nearest whole number) 2018 NOPAT 3,494 * 15 millions) (b) Compute net operating assets (NOA) for 2018 and 2017 2018 NOA - 12,331 (5 millions) 2017 NOA 11,853 X (5 millions) (0) Compute Costco's RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2018. (Do not round until final answer. Round two decimal places. Do not use NOPMX NOAT to calculate RNOA) 2018 RNOA 26.52 2018 NOPM 2.46 X 2018 NOAT = 11:48 x 201 PM (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOA - NNO + Total equity. 2018 NNO 0 X ($ millions) 2017 NNO 0 x ($ millions) (e) Compute return on equity (ROE) for 2018. (Round your answers to two decimal places. Do not round until your final answer.) 2018 ROE = 0 X 96 (f) Infer the nonoperating return component of ROE for 2018. Use answers from above to calculate. Round your answer to two decimal places.) 0 X 96 (g) Comment on the difference between ROE and RNOA. What does this relation suggest about Costco's use of equity capital? OROE > RNOA implies that Costco's equity has grown faster than its NOAX ORDE > RNOA implies that Costco has taken on too much financial leverage CROE > RNOA implies that Costco is able to borrow money to fund operating assets that yield a return greater than its cost of debt. OROE > RNOA implies that Costco Increased its financial leverage during the period. Check (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. (Round your answer to the nearest whole number.) 2018 NOPAT 3,494 X (5 millions) (b) Compute net operating assets (NCA) for 2018 and 2017 2018 NOA 12,331 (5 millions) 2017 NOA - 11,853 X (5 millions) (Compute Costco's RNOA, net operating profit margin (OPM) and net operating asset turnover (NOAT) for 2018. (Do not round until final answer. Round two decimal places, not use NOPMX NOAT to calculate RNOA) 2018 RNOA = 26.52 2018 NOPM = 2.46 2018 NOAT = 11.48 x (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOANNO - Total equity. 2018 NNO = 0 X (5 millions) 2017 NNO 0 X (millions) (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOANNO + Total equity. 2018 NNO 0 * ($ millions) 2017 NNO 0 * (5 millions) (e) Compute return on equity (ROE) for 2018. (Round your answers to two decimal places. Do not round until your final answer.) 2018 ROE = 0 X 96 (1) Infer the nonoperating return component of ROE for 2018. Use answers from above to calculate. Round your answer to two decimal places.) 0 X 96 Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) September 2, 2018 Total revenue $141,576 Operating expenses Merchandise costs 123,152 Selling, general and administrative 13,876 Preopening expenses 68 Operating Income 4,480 Other income (expense) Interest expense 159 Interest income and other, net (121) 4,442 Income before income taxes 1,263 Provision for income taxes 3,179 Net income including noncontrolling interests (45) Net income attributable to noncontrolling interests $3,134 Net income attributable to Costco Costco Wholesale Corporation Consolidated Balance Sheets ($ millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets $6,055 $4,546 1,233 1,204 1,669 1,432 11,040 9,834 321 272 17,317 20,289 19,681 18,161 869 860 $40,830 $36,347 $11,237 $9,608 2,703 Cash and cash equivalents Short-term investments Receivables, net Merchandise inventories Other current assets Total current assets Net property and equipment Other assets Total assets Current liabilities Accounts payable Accrued salaries and benefits Accrued member rewards Deferred membership fees Other current liabilities Total current liabilities Long-term debt Other liabilities Total liabilities Equity Preferred stock $0.01 par value: Common stock $0.01 par value: Additional paid-in-capital 961 2.994 1,057 1,624 3,014 1,498 2.725 17.495 19,926 6,487 6,573 1,314 1,200 27.727 25,268 0 4 6.107 5.800 104) 7.87 5. 10.77 Accumulated other comprehensive Retained earnings Total Costco stockholders' equity Noncontrolling interests Total equity Total liabilities and equity 12.799 304 12103 540,830 301 11.079 (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. (Round your answer to the nearest whole number) 2018 NOPAT 3,494 * 15 millions) (b) Compute net operating assets (NOA) for 2018 and 2017 2018 NOA - 12,331 (5 millions) 2017 NOA 11,853 X (5 millions) (0) Compute Costco's RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2018. (Do not round until final answer. Round two decimal places. Do not use NOPMX NOAT to calculate RNOA) 2018 RNOA 26.52 2018 NOPM 2.46 X 2018 NOAT = 11:48 x 201 PM (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOA - NNO + Total equity. 2018 NNO 0 X ($ millions) 2017 NNO 0 x ($ millions) (e) Compute return on equity (ROE) for 2018. (Round your answers to two decimal places. Do not round until your final answer.) 2018 ROE = 0 X 96 (f) Infer the nonoperating return component of ROE for 2018. Use answers from above to calculate. Round your answer to two decimal places.) 0 X 96 (g) Comment on the difference between ROE and RNOA. What does this relation suggest about Costco's use of equity capital? OROE > RNOA implies that Costco's equity has grown faster than its NOAX ORDE > RNOA implies that Costco has taken on too much financial leverage CROE > RNOA implies that Costco is able to borrow money to fund operating assets that yield a return greater than its cost of debt. OROE > RNOA implies that Costco Increased its financial leverage during the period. Check (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. (Round your answer to the nearest whole number.) 2018 NOPAT 3,494 X (5 millions) (b) Compute net operating assets (NCA) for 2018 and 2017 2018 NOA 12,331 (5 millions) 2017 NOA - 11,853 X (5 millions) (Compute Costco's RNOA, net operating profit margin (OPM) and net operating asset turnover (NOAT) for 2018. (Do not round until final answer. Round two decimal places, not use NOPMX NOAT to calculate RNOA) 2018 RNOA = 26.52 2018 NOPM = 2.46 2018 NOAT = 11.48 x (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOANNO - Total equity. 2018 NNO = 0 X (5 millions) 2017 NNO 0 X (millions) (d) Compute net nonoperating obligations (NNO) for 2018 and 2017. Confirm the relation: NOANNO + Total equity. 2018 NNO 0 * ($ millions) 2017 NNO 0 * (5 millions) (e) Compute return on equity (ROE) for 2018. (Round your answers to two decimal places. Do not round until your final answer.) 2018 ROE = 0 X 96 (1) Infer the nonoperating return component of ROE for 2018. Use answers from above to calculate. Round your answer to two decimal places.) 0 X 96