For Fiscal Years Ended ($ millions) Total revenue Operating expenses Merchandise costs Selling, general and administrative Preopening expenses Operating Income Other income (expense) Interest expense September 2, 2018 $141,576 Analysis and Interpretation of Liquidity and Solvency Balance sheets and income statements for Costco Wholesale Corpora Costco Wholesale Corporation Consolidated Statements of Earnings Costco Wholesale Corporation Consolidated Balance Sheets ($ millions, except par value and share data) September 2, 2018 September 3, 2017 Current assets Cash and cash equivalents Short-term investments $6,055 $4,546 1,204 1,233 123,152 Receivables, net Merchandise inventories 1,669 1,432 11,040 9,834 13,876 Other current assets 321 272 68 Total current assets 20,289 17,317 4,480 Net property and equipment 19,681 18,161 Other assets 850 159 Total assets $40,830 869 $36,347 Interest income and other, net (121) Current liabilities Income before income taxes 4,442 Accounts payable $11,237 $9,608 Provision for income taxes 1,263 Accrued salaries and benefits 2,994 2,703 Net income including noncontrolling interests 3,179 Accrued member rewards 1,057 961 Net income attributable to noncontrolling interests (45) Deferred membership fees 1,624 1,498 Net income attributable to Costco $3,134 Other current liabilities 3,014 2,725 Total current liabilities 19,926 17,495 Long-term debt Other liabilities Total liabilities Equity 5,487 6,573 1,314 1,200 27,727 25.268 Preferred stock, $0.01 par value: 0 0 Common stock, $0.01 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 10,778 Noncontrolling interests 304 301 Total equity 13,103 11,079 Total liabilities and equity $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 1.47 x 2017 current ratio = 1.44 x