Complete the four separate assigned analysis files (Liabilities, Long-Lived Assets, Owner's Equity, Statement of Cash Flows) Answer each question completely. Write a substantive paragraph describing what you have learned about Costco. The paragraph should provide a concise summary related to what you have learned about Costco. Specifically, how Costco is performing from a financial analysis perspective? September 1, 2019 September 2, 2018 ASSETS CURRENT ASSETS Cash and cash equivalents $8,384 $6,055 Short-term investments 1,060 1,204 Receivables, net 1,535 1,669 Merchandise inventories 11,395 11,040 Other current assets 1,111 321 Total current assets 23,485 20,289 PROPERTY AND EQUIPMENT Land 6,417 6,193 17,136 16,107 Buildings and improvements Equipment and fixtures 7,274 7,801 1,272 Construction in progress 1,140 32,626 30,714 Less accumulated depreciation and amortization (11,736) (11,033) Net property and equipment 20,890 19,681 OTHER ASSETS 1,025 860 TOTAL ASSETS $ 45, 400 $40,830 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $11,679 $11,237 Accrued salaries and benefits 3,176 2,994 Accrued member rewards 1,180 1,057 1,624 Deferred membership fees Current portion of long-term debt Other current liabilities 1,711 1,699 3,792 90 2,924 Total current liabilities 23, 237 19,926 LONG-TERM DEBT, excluding current portion 5, 124 6,487 OTHER LIABILITIES 1,455 1, 314 Total liabilities 29,816 27,727 COMMITMENTS AND CONTINGENCIES EQUITY Preferred stock $0.01 par value; 100,000,000 0 0 shares authorized; no shares issued and outstanding Common stock $0.01 par value; 900,000,000 shares authorized; 439,625,000 and 438, 189,000 4 4 shares issued and outstanding 6,107 6,417 (1,436) (1,199) Additional paid-in capital Accumulated other comprehensive loss Retained earnings Total Costco stockholders? equity 10,258 7,887 12,799 15, 243 341 304 Noncontrolling interests Total equity TOTAL LIABILITIES AND EQUITY 13,103 15,584 $45,400 $40,830 CONSOLIDATED BALANCE SHEETS For the Year Ended August 30, 2020 August 30, September 1, 2020 2019 ASSETS CURRENT ASSETS Cash and cash equivalents Short-term investments $ 12,277 $ 8,384 1,028 1,060 Receivables, net 1,550 1,535 11,395 Merchandise inventories 12,242 Other current assets 1,023 28,120 1,111 23,485 Total current assets OTHER ASSETS 21,807 20,890 Property and equipment, net Operating lease right-of-use assets Other long-term assets 2,788 2,841 1,025 TOTAL ASSETS $ 55,556 $ 45,400 LIABILITIES AND EQUITY CURRENT LIABILITIES $ 14,172 3,605 11,679 3,176 1,393 Accounts payable Accrued salaries and benefits Accrued member rewards Deferred membership fees Current portion of long-term debt Other current liabilities 1,180 1,711 1,851 95 3,728 24,844 1,699 3,792 23,237 Total current liabilities OTHER LIABILITIES 5,124 7,514 2,558 Long-term debt, excluding current portion Long-term operating lease liabilities Other long-term liabilities TOTAL LIABILITIES 1,935 1,455 36,851 29,816 COMMITMENTS AND CONTINGENCIES - EQUITY Preferred stock $0.01 par value; 100,000,000 shares authoi - Common stock $0.01 par value; 900,000,000 shares authoi Additional paid-in capital Accumulated other comprehensive loss 4 4 6,698 (1,297) 12,879 18,284 6,417 (1,436) 10,258 15,243 Retained earnings Total Costco stockholders' equity Noncontrolling interests Total equity TOTAL LIABILITIES AND EQUITY 421 341 18,705 55,556 15,584 45,400 $ $ Complete the four separate assigned analysis files (Liabilities, Long-Lived Assets, Owner's Equity, Statement of Cash Flows) Answer each question completely. Write a substantive paragraph describing what you have learned about Costco. The paragraph should provide a concise summary related to what you have learned about Costco. Specifically, how Costco is performing from a financial analysis perspective? September 1, 2019 September 2, 2018 ASSETS CURRENT ASSETS Cash and cash equivalents $8,384 $6,055 Short-term investments 1,060 1,204 Receivables, net 1,535 1,669 Merchandise inventories 11,395 11,040 Other current assets 1,111 321 Total current assets 23,485 20,289 PROPERTY AND EQUIPMENT Land 6,417 6,193 17,136 16,107 Buildings and improvements Equipment and fixtures 7,274 7,801 1,272 Construction in progress 1,140 32,626 30,714 Less accumulated depreciation and amortization (11,736) (11,033) Net property and equipment 20,890 19,681 OTHER ASSETS 1,025 860 TOTAL ASSETS $ 45, 400 $40,830 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable $11,679 $11,237 Accrued salaries and benefits 3,176 2,994 Accrued member rewards 1,180 1,057 1,624 Deferred membership fees Current portion of long-term debt Other current liabilities 1,711 1,699 3,792 90 2,924 Total current liabilities 23, 237 19,926 LONG-TERM DEBT, excluding current portion 5, 124 6,487 OTHER LIABILITIES 1,455 1, 314 Total liabilities 29,816 27,727 COMMITMENTS AND CONTINGENCIES EQUITY Preferred stock $0.01 par value; 100,000,000 0 0 shares authorized; no shares issued and outstanding Common stock $0.01 par value; 900,000,000 shares authorized; 439,625,000 and 438, 189,000 4 4 shares issued and outstanding 6,107 6,417 (1,436) (1,199) Additional paid-in capital Accumulated other comprehensive loss Retained earnings Total Costco stockholders? equity 10,258 7,887 12,799 15, 243 341 304 Noncontrolling interests Total equity TOTAL LIABILITIES AND EQUITY 13,103 15,584 $45,400 $40,830 CONSOLIDATED BALANCE SHEETS For the Year Ended August 30, 2020 August 30, September 1, 2020 2019 ASSETS CURRENT ASSETS Cash and cash equivalents Short-term investments $ 12,277 $ 8,384 1,028 1,060 Receivables, net 1,550 1,535 11,395 Merchandise inventories 12,242 Other current assets 1,023 28,120 1,111 23,485 Total current assets OTHER ASSETS 21,807 20,890 Property and equipment, net Operating lease right-of-use assets Other long-term assets 2,788 2,841 1,025 TOTAL ASSETS $ 55,556 $ 45,400 LIABILITIES AND EQUITY CURRENT LIABILITIES $ 14,172 3,605 11,679 3,176 1,393 Accounts payable Accrued salaries and benefits Accrued member rewards Deferred membership fees Current portion of long-term debt Other current liabilities 1,180 1,711 1,851 95 3,728 24,844 1,699 3,792 23,237 Total current liabilities OTHER LIABILITIES 5,124 7,514 2,558 Long-term debt, excluding current portion Long-term operating lease liabilities Other long-term liabilities TOTAL LIABILITIES 1,935 1,455 36,851 29,816 COMMITMENTS AND CONTINGENCIES - EQUITY Preferred stock $0.01 par value; 100,000,000 shares authoi - Common stock $0.01 par value; 900,000,000 shares authoi Additional paid-in capital Accumulated other comprehensive loss 4 4 6,698 (1,297) 12,879 18,284 6,417 (1,436) 10,258 15,243 Retained earnings Total Costco stockholders' equity Noncontrolling interests Total equity TOTAL LIABILITIES AND EQUITY 421 341 18,705 55,556 15,584 45,400 $ $