Homework Answers
Part D
|
2016 NNO |
$432 millions |
|
2015 NNO |
$(284) millions |
NNO = (long term debt +current portion of long-term debt)-(cash and cash equivalents + short-term investments)
2016 NNO = (4061 +1100) – (3379 + 1350) = $432
2016 NOA = NNO + Total stockholders’ equity: 12,764 = 432 + 12,332
2016 NOA = 33,163 – 3,379 –1,350 – (15,575 – 1,100) - 1,195 = 12,764
2015 NNO = (4,852 + 1,283) – (4,801 + 1,618) = $(284)
2015 NOA = 33,017 – 4,801 – 1,618 – (16,539 – 1,283) - 783 = $10,559
2015 NOA = NNO + Total stockholders’ equity: 10,559 = (284) + 10,843
Part E
|
2016 ROE |
20.71% |
ROE = net income / average stockholders’ equity
2016 ROE = 2,350 / [(12,079 + 10,617) / 2] = 20.71%
Part F
|
nonoperating return component of ROE for 2016 |
0.05% |
2016 NOPAT = 3,672 - [1,243 + ((133 - 80) × 0.37)] = 2,409
2016 RNOA = 2,409 / [(12,764 + 10,559) / 2] = 20.66%
2016 nonoperating return = ROE – RNOA = 20.71% – 20.66% = 0.05%
Part G
ROE > RNOA implies that Costco is able to borrow money to fund operating assets that yield a return greater than its cost of debt.
This states that there is an excess accrues to the benefit of Costco’s stockholders.
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ing assct lumover (NUAT)of 2016, CUI H Nin d. Compute net nonoperating obligations (NNO) for 2016...
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Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of...
Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 78 65 63 Operating Income 3,672 3,624 3,220 Other income (expense) Interest expense (133) (124) (113)...
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco...
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Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco...
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Direct Computation of Nonoperating Return with Noncontrolling Interest Balance sheets and income statements for Costco Wholesale...
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Please help me answer these correctly with solutions. Thank you! Analysis and Interpretation of Profitability Balance...
Please help me answer these correctly with solutions. Thank
you!
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Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco...
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this is a clearer picture .. thanks
Direct Computation of Nonoperating Return Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 65 63 Operating Income...
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 63 Operating Income 3,672 3,624 3,220 Other income (expense) Interest expense...
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016 August 30, 2015 August 31, 2014 Revenue Net Sales $116,073 $113,666 $110,212 Membership fees 2,646 2,533 2,428 Total revenue 118,719 116,199 112,640 Operating expenses Merchandise costs 102,901 101,065 98,458 Selling, general and administrative 12,068 11,445 10,899 Preopening expenses 63 Operating Income 3,672 3,624 3,220 Other income (expense) Interest expense...
Direct Computation of Nonoperating Return with Noncontrolling Interest Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) September 2, 2018 Total revenue $141,576 Operating expenses Merchandise costs 123,152 Selling, general and administrative 13,876 Preopening expenses 68 Operating Income 4,480 Other income (expense) Interest expense 159 Interest income and other, net (121) Income before income taxes 4,442 Provision for income taxes 1,263 Net income including noncontrolling interests...
a. Compute net nonoperating expenses (NNE) for 2016 and 2015.
Assume that combined federal and state statutory tax rate is 37%
for both fiscal years
b. Compute net nonoperating obligations (NNO) for 2016 and
2015
Income statements and balance sheets follow for Snap-On Incorporated. Refer to these financial statements to answer the requirements SNAP-ON INCORPORATED Consolidated Statements of Earnings (Amounts in millions) For the fiscal vear ended Net sales Cost of goods sold Gross profit Operating expenses 2016 $3,430.4 (1,720.8...
Please help me answer these correctly with solutions. Thank
you!
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corportation follow Consolidated Statements of Earnings September 1, September 2, August 28 For Fiscal Years Ended ($ millions) 2013 2012 2011 Revenue 97,062 $87,048 1,867 Net Sales $102,870 2,286 105,156 Membership fees 2,075 Total revenue 99,137 88,915 Operating expenses Merchandise costs Selling, general and administrative Preopening expenses 91,948 10,104 51 3,053 86,823 9,518 37 2,759 77,739 8,691...
Analysis and Interpretation of Profitability Balance sheets and income statements for Costco Wholesale Corporation follow. Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) September 2, 2018 Total revenue $141,576 Operating expenses Merchandise costs 123,152 Selling, general and administrative 13,876 Preopening expenses 68 Operating Income 4,480 Other income (expense) Interest expense 159 Interest income and other, ne (121) Income before income taxes 4,442 Provision for income taxes 1,263 Net income including noncontrolling interests 3,179 Net income...
PLEASE HELP!!!
Compute ROE and Nonoperating Return with Negative NNO and No Noncontrolling Interest Refer to the balance sheets and income statement below for Facebook Inc. FACEBOOK INC. Consolidated Statement of Income For Year Ended December 31, 5 millions 2018 Revenue $55,838 Costs and expenses Cost of revenue 9,355 Research and development 10.273 Marketing and sales 7.846 General and administrative 3,451 Total costs and expenses 30,925 Income from operations 24.913 Interest and other income (expense), net Income before provision for...
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