Homework Answers
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As per the HOMEWORKLIB POLICY, only the first question should be answered. Kindly take note of it. Each new question should be posted separately.
Part A
|
2016 NNO |
432 |
|
2015 NNO |
(284) |
|
2016 NNE |
33 |
|
2016 NNEP |
45.12% |
|
2016 FLEV |
0.0064 |
|
2016 Spread |
(23.93)% |
|
2016 NCI ratio |
1.0099 |
2016 NNO = 4998-(4644+1480) = 432
2015 NNO = 1381-(3528+1326) = (284)
2016 FLEV = ((432-284)/2)/((12332+10843)/2) = 0.0064
2016 NOPAT = 3672-(1243+((133-80)*0.37)) = 2409
2016 NNE = NOPAT – net income = 2409-2376 = $33
2016 NNEP = 33/((432-284)82) = 45.12%
2016 Spread= RNOA-NNEP = 20.66%-45.12% = -24.46%
2016 RNOA = 2409 / ((12764 + 10559) / 2) = 20.66%
NCI ratio = (2350/2376)/(((12079+10617)/2)/((12332+10843)/2)) = 1.0099
Part B
|
2016 ROE = |
20.71% |
[ |
20.66% |
+ |
( |
0.0064 |
x |
(23.93)% |
)] |
x |
1.0099 |
ROE = (20.66% + (0.0064 * -24.46%)) *1.0099 = 20.71%
Part C
Answer is option C
Costco's FLEV is positive - meaning its average non-operating liabilities exceed its average non-operating assets. Costco has a high level of cash and short term investments to use for new opportunities.
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Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco...
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 (5 millions) September 2, 2018 Total revenue $141,576 Operating expenses Merchandise costs 123,152 Selling general and administrative 13,876 Preopening expenses 68 Operating Income 4,480 Other Income (expense) Interest expense 159 Interest income and other, net (121) Income before income taxes Provision for income taxes 1,263 Net income including noncontrolling interests 3,179 Net income attributable...
Please help me answer these correctly with solutions. Thank you! Analysis and Interpretation of Profitability Balance...
Please help me answer these correctly with solutions. Thank
you!
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Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 63 Operating Income 3,672 3,624 3,220 Other income (expense) Interest expense...
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 63 Operating Income 3,672 3,624 3,220 Other income (expense) Interest expense...
Direct Computation of Nonoperating Return with Noncontrolling Interest Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ 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) Income before income taxes 4,442 Provision for income taxes 1,263 Net income including noncontrolling interests...
P3-50. Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow Aug. 30. 2015 Aug. 31, 2014 $113.666 2.533 116.199 $110.212 2.428 112.540 COSTCO WHOLESALE CORPORATION Consolidated Statements of income Aug. 20 For Fiscal Years Ended (5 millions) 2016 Revenue Net sales. $116.073 Membership fees. Total revenue. 118,719 Operating expenses Merchandise costs... 102 901 Selling, general and administrative...... 12.058 Preopening expenses............ Operating income.. 3.672 Other Income (expense) Interest expense..... . (1339 Interest Income and other...
ing assct lumover (NUAT)of 2016, CUI H Nin d. Compute net nonoperating obligations (NNO) for 2016 and 2015. Confirm the relation: NOA = NNO + Total equity c. Compute return on equity (ROE) for 2016, Iofer the nonoperating return component of ROE for 2016, Comment on the difference between ROE and RNOA. What does this relation suggest about Casiente use of equity capital? P3-50. Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow Aug....
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Direct Computation of Nonoperating Return Balance sheets and income statements for 3M Company follow. 3M COMPANY Consolidated Statements of Income For Years Ended December 31 ($ millions) 2018 2017 Net sales $32,765 $31,657 Operating expenses Cost of sales 16,682 16,055 Selling, general and administrative expenses 7,602 6,626 Research, development and related expenses 1,821 1,870 Gain on sale of businesses (547) (586) Total operating expenses 25,558 23,965 Operating income 7,207 7,692 Other expense, net* 207 144 Income before income taxes 7,000...
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 (5 millions) September 2, 2018 Total revenue $141,576 Operating expenses Merchandise costs 123,152 Selling general and administrative 13,876 Preopening expenses 68 Operating Income 4,480 Other Income (expense) Interest expense 159 Interest income and other, net (121) Income before income taxes Provision for income taxes 1,263 Net income including noncontrolling interests 3,179 Net income attributable...
Please help me answer these correctly with solutions. Thank
you!
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corportation follow Consolidated Statements of Earnings September 1, September 2, August 28 For Fiscal Years Ended ($ millions) 2013 2012 2011 Revenue 97,062 $87,048 1,867 Net Sales $102,870 2,286 105,156 Membership fees 2,075 Total revenue 99,137 88,915 Operating expenses Merchandise costs Selling, general and administrative Preopening expenses 91,948 10,104 51 3,053 86,823 9,518 37 2,759 77,739 8,691...
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