Question: Look at the income statement (sometimes called the Statements of Operations) for the last two years. What caused the changes in the Income Statement from last year to this year? Use account names and numbers for both years to explain your answer.

COSTCO WHOLESALE CORPORATION CONSOLIDATED STATEMENTS OF INCOME (amounts in millions, except per share data) 52 Weeks Ended August 29, 2021 52 Weeks Ended August 30, 2020 $ 192,052 $ 3,877 195,929 163,220 3,541 166,761 170,684 18,461 76 6,708 144,939 16,332 55 5,435 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 NET INCOME ATTRIBUTABLE TO COSTCO NET INCOME PER COMMON SHARE ATTRIBUTABLE TO COSTCO: Basic Diluted Shares used in calculation (000's) Basic Diluted (171) 143 6,680 1,601 5,079 (160) 92 5,367 1,308 4,059 (72) 5,007 $ (57) 4,002 $ 9.05 11.30 $ 11.27 $ $ 9.02 443,089 444,346 442,297 443,901