Analysis and Interpretation of Liquidity and Solvency 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 123152 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 1263 Net Income including noncontrolling interests 3.179 Net Income attributable to noncontrolling interests (45) Net Income attributable to Costco 53,134 1.432 Costco Wholesale Corporation Consolidated Balance Sheets s millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets Cash and cash equivalents $6,055 54546 Short-term investments 1204 1233 Receivables.net 1,669 Merchandise inventories 11.040 9.834 Other current assets 321 272 Total current assets 20.289 17 317 Net property and equipment 19,681 18.161 Other assets 850 869 Total assets 540,850 $36.347 Current liabilities Accounts payable 511.27 59.608 Accrued salaries and benefits 3.994 2703 Accrued member rewards 1057 961 Deferred membership fees 1,624 1498 Other current liabilities 1014 12 Total current after 19,926 7495 Long-term debt 6,487 23 Others 1,314 1200 Totallaties 27 727 250 Equity Preferred stoc 50.01 par value 0 Common stock, 30.01 par value Costco Wholesale Corporation Consolidated Balance Sheets (5 millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets Cash and cash equivalents $6,055 $4,546 Short-term investments 1.204 1,233 Receivables, net 1,669 1,432 Merchandise inventories 11,040 9,834 Other current assets 321 272 Total current assets 20,289 17,317 Net property and equipment 19,681 18,161 Other assets 860 869 Total assets $40,830 $36,347 Current liabilities Accounts payable $11,237 59,608 Accrued salaries and benefits 2,994 2,703 Accrued member rewards 1,057 961 Deferred membership fees 1,624 1,498 Other current liabilities 3,014 2,725 Total current liabilities 19.926 17,495 Long-term debt 6,487 6,573 Other abilities 1,314 1,200 Total liabilities 27,727 25,268 Equity Preferred stock. $0.01 par value: 0 0 Common stock, 50.01 par value: 4 4 Additional paid-in-capital 6,107 5,800 Accumulated other comprehensive loss (1,199) (1,014) Retained earnings 7.887 5.988 Total Costco stockholders' equity 12.799 10,77a Noncontrolling interests 304 301 Total equity 13,103 11,079 Totat labies and equity 540,830 $36,347 (a) Compute Costco's current ratio and quick ratio for 2018 and 2017. (Round answer 2018 current ratio - 0.99 2017 current ratio = 1 SE Tinh 011 Catch Combo to 23 your feet Out dowy OC incet What Analysis and Interpretation of Liquidity and Solvency 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 123152 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 1263 Net Income including noncontrolling interests 3.179 Net Income attributable to noncontrolling interests (45) Net Income attributable to Costco 53,134 1.432 Costco Wholesale Corporation Consolidated Balance Sheets s millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets Cash and cash equivalents $6,055 54546 Short-term investments 1204 1233 Receivables.net 1,669 Merchandise inventories 11.040 9.834 Other current assets 321 272 Total current assets 20.289 17 317 Net property and equipment 19,681 18.161 Other assets 850 869 Total assets 540,850 $36.347 Current liabilities Accounts payable 511.27 59.608 Accrued salaries and benefits 3.994 2703 Accrued member rewards 1057 961 Deferred membership fees 1,624 1498 Other current liabilities 1014 12 Total current after 19,926 7495 Long-term debt 6,487 23 Others 1,314 1200 Totallaties 27 727 250 Equity Preferred stoc 50.01 par value 0 Common stock, 30.01 par value Costco Wholesale Corporation Consolidated Balance Sheets (5 millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets Cash and cash equivalents $6,055 $4,546 Short-term investments 1.204 1,233 Receivables, net 1,669 1,432 Merchandise inventories 11,040 9,834 Other current assets 321 272 Total current assets 20,289 17,317 Net property and equipment 19,681 18,161 Other assets 860 869 Total assets $40,830 $36,347 Current liabilities Accounts payable $11,237 59,608 Accrued salaries and benefits 2,994 2,703 Accrued member rewards 1,057 961 Deferred membership fees 1,624 1,498 Other current liabilities 3,014 2,725 Total current liabilities 19.926 17,495 Long-term debt 6,487 6,573 Other abilities 1,314 1,200 Total liabilities 27,727 25,268 Equity Preferred stock. $0.01 par value: 0 0 Common stock, 50.01 par value: 4 4 Additional paid-in-capital 6,107 5,800 Accumulated other comprehensive loss (1,199) (1,014) Retained earnings 7.887 5.988 Total Costco stockholders' equity 12.799 10,77a Noncontrolling interests 304 301 Total equity 13,103 11,079 Totat labies and equity 540,830 $36,347 (a) Compute Costco's current ratio and quick ratio for 2018 and 2017. (Round answer 2018 current ratio - 0.99 2017 current ratio = 1 SE Tinh 011 Catch Combo to 23 your feet Out dowy OC incet What