Table A: Income Statement for Costco and Macy's Costco Income statement 2012 97,062 2,075 99,137 86,823 12,314 Macy's Income statement 2012 30,000 30,000 20,000 10,000 (SG&A) Net sales Membership fees Total revenue Cost of goods sold (COGS) Gross Margin Selling, general, and administrative Operating Profit Other income (expenses) interest Income Provision for income tax Net profit g=+Gross margin percent SG&A percent of sales operating profit percent Net profit percent 9,518 2,796 -95 103 -84 2,720 10.5% 9.8% 2.9% 2.80% 6,000 4,000 40 -600 -900 2,540 33.3% 20.0% 13.3% 8.5% Table B: Balance sheet for Costco and Macy's Macy's 4000 400 Cash and cash equivalents short-term investments Accounts receivable Merchandise inventory other current assets total current assets Property and equipment (net) Other assets Total assets current liabilities Long term debt other liabilities Total liabilities Stockholder equity Costco 4,009 1,604 965 6,638 490 13,706 12,432 623 26,761 12,050 1,253 885 14,188 12.573 8000 465 12865 10000 6000 28865 8000 8000 3000 19000 8000 1. Show how to calculate the Gross Margin for each company. Compare and discuss findings. 2. Show how to calculate the Operating Income Percentage for each company. Compare and discuss findings. 3. Show how to calculate Total Current Assets. Compare and discuss findings. 4. Show how to calculate Total Assets. Compare and discuss findings