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 3,179 Net income attributable to noncontrolling interests (45) Net income attributable to Costco $3,134 Costco Wholesale Corporation Consolidated Balance Sheets ($ 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 $9,608 2,703 Accrued salaries and benefits Accrued member rewards $11,237 2,994 1,057 1,624 3,014 961 Deferred membership fees Other current liabilities Total current liabilities 1,498 2,725 17,495 6,573 1,200 19,926 6,487 1,314 27,727 Long-term debt Other liabilities Total liabilities 25,268 0 0 4 4 Equity Preferred stock, $0.01 par value: Common stock, $0.01 par value: Additional paid-in-capital Accumulated other comprehensive loss Retained earnings 6,107 (1,199) 7,887 5,800 (1,014) 5,988 12,799 10,778 304 301 Total Costco stockholders' equity Noncontrolling interests Total equity Total liabilities and equity 11,079 13,103 $40,830 $36,347 (a) Compute Costco's current ratio and quick ratio for 2018 and 2017. (Round answers two decimal places.) 2018 current ratio = 1.02 2017 current ratio = 0.99