Inferring Transactions from Financial Statements Costco Wholesale Corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at locations across the U.S. as well as in Canada, the United Kingdom, Japan, Australia, South Korea, Taiwan, Mexico and Puerto Rico. As of its fiscal year-end 2009, Costco had approximately 53.5 million members. Selected fiscal-year information from the company's balance sheets follows. ($ thousands). Selected Balance Sheet Data ($ millions) 2009 2008 Merchandise inventories Deferred membership income (liability) $5,039 $4,879 748 692 (a) During fiscal 2009, Costco collected $1,562 cash for membership fees. Use the financial statement effects template to record the cash collected for membership fees. (b) In 2009, Costco recorded $63,503 in merchandise costs (that is, cost of goods sold). Record this transaction in the financial statement effects template. (c) Determine the value of merchandise that Costco purchased during fiscal-year 2009. Use the financial statement effects template to record these merchandise purchases. Assume all of Costco's purchases are on account, and recorded in accounts payable. Use negative signs with your answers, when appropriate. Enter answers in millions. Balance Sheet Income Statement Cash Transaction Asset Noncash Assets Contributed Earned Liabilities + Capital + Capital Revenue Expenses = Net Income (a) 0 0 0 0 0 0 0 0 (b) 0 0 0 0 0 0 0 0 (c) 0 0 0 0 0 0 0 0