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How do i solve this question To answer the questions below, refer to the following disclosures for the warehouse club retailer: The Company accounts for

How do i solve this question

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To answer the questions below, refer to the following disclosures for the warehouse club retailer: "The Company accounts for membership fee revenue, net of refunds, on a deferred basis, ratably over the one-year membership..." September 2 September 3. 2018 2017 CURRENT LIABILITIES Accounts payable $ 11,237 $ 9,608 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 52 Weeks Ended 53 Weeks Ended 52 Wooks Ended September 2, Soptomber 3, August 28, 2018 2017 2016 REVENUE Not sales . . S 138 434 5 126.172 $ 116.073 Membership fees 3.142 2.853 2.646 Total revenue 141.576 128.025 118.719 OPERATING EXPENSES Merchandise costs 123.152 111.882 102 901 Selling, general and administralive . 13.876 12.950 12 068 Preopening expenses 82 78 Operating income 4 480 4.111 3.672 What is the amount of cash received for membership fees for the fiscal year ending Sept. 2, 2018

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