Costco Wholesale Corporation reported the following for the fiscal year ending August 31, 2023:

Financial Item	Amount ($)
Net Sales	300,000,000
Cost of Goods Sold	180,000,000
Operating Expenses	70,000,000
Interest Expense	5,000,000
Tax Expense	15,000,000
Dividends Paid	20,000,000
Beginning Retained Earnings	25,000,000

Requirements:

1. Prepare an Income Statement.
2. Calculate the Net Income.
3. Draft a Statement of Retained Earnings.
4. Compute the Earnings per Share with 120,000 shares outstanding.
5. Assess the impact of a 5% increase in cost of goods sold on net income.