| 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) |
| Interest income and other, net | 80 | 104 | 90 |
| Income before income taxes | 3,619 | 3,604 | 3,197 |
| Provision for income taxes | 1,243 | 1,195 | 1,109 |
| Net income including noncontrolling interests | 2,376 | 2,409 | 2,088 |
| Net income attributable to noncontrolling interests | (26) | (32) | (30) |
| Net income attributable to Costco | $2,350 | $2,377 | $2,058 |
| Costco Wholesale Corporation | |||
|---|---|---|---|
| Consolidated Balance Sheets | |||
| ($ millions, except par value and share data) | August 28, 2016 | August 30, 2015 | |
| Assets | |||
| Current assets | |||
| Cash and cash equivalents | $3,379 | $4,801 | |
| Short-term investments | 1,350 | 1,618 | |
| Receivables, net | 1,252 | 1,224 | |
| Merchandise inventories | 8,969 | 8,908 | |
| Deferred income taxes and other current assets | 268 | 228 | |
| Total current assets | 15,218 | 16,779 | |
| Property and equipment | |||
| Land | 5,395 | 4,961 | |
| Buildings and improvements | 13,994 | 12,618 | |
| Equipment and fixtures | 6,077 | 5,274 | |
| Construction in progress | 701 | 811 | |
| Gross property and equipment | 26,167 | 23,664 | |
| Less accumulated depreciation and amortization | (9,124) | (8,263) | |
| Net property and equipment | 17,043 | 15,401 | |
| Other assets | 902 | 837 | |
| Total assets | $33,163 | $33,017 | |
| Liabilities and equity | |||
| Current liabilities | |||
| Accounts payable | $7,612 | $9,011 | |
| Current portion long-term debt | $1,100 | $1,283 | |
| Accrued salaries and benefits | 2,629 | 2,468 | |
| Accrued member rewards | 869 | 813 | |
| Deferred membership fees | 1,362 | 1,269 | |
| Other current liabilities | 2,003 | 1,695 | |
| Total current liabilities | 15,575 | 16,539 | |
| Long-term debt, excluding current portion | 4,061 | 4,852 | |
| Other liabilities | 1,195 | 783 | |
| Total liabilities | 20,831 | 22,174 | |
| Equity | |||
| Preferred stock, $0.005 par value: | |||
| 100,000,000 shares authorized; no shares issued and outstanding | 0 | 0 | |
| Common stock, $0.005 par value: | |||
| 900,000,000 shares authorized; | |||
| 437,524,000 and 437,952,000 shares issued and outstanding | 2 | 2 | |
| Additional paid-in-capital | 5,490 | 5,218 | |
| Accumulated other comprehensive loss | (1,099) | (1,121) | |
| Retained earnings | 7,686 | 6,518 | |
| Total Costco stockholders’ equity | 12,079 | 10,617 | |
| Noncontrolling interests | 253 | 226 | |
| Total equity | 12,332 | 10,843 | |
| Total liabilities and equity | $33,163 | $33,017 | |
(a) Compute net operating profit after tax (NOPAT) for 2016. Assume that the combined federal and state statutory tax rate is 37%. (Round to the nearest whole number.)
(b) Compute net operating assets (NOA) for 2016 and 2015.
(c) Compute Costco’s RNOA, net operating profit margin (NOPM) and net operating asset turnover (NOAT) for 2016. (Do not round until final answer. Round two decimal places. Do not use NOPM x NOAT to calculate RNOA)
(d) Compute net nonoperating obligations (NNO) for 2016 and 2015
(e) Compute return on equity (ROE) for 2016. (Do not round until final answer. Round answer two decimal places)
(f) Infer the nonoperating return component of ROE for 2016. (Use answers from above to calculate. Round two decimal places.)
In: Accounting
|
Snap-On Incorporated Consolidated Statements of Earnings |
|||
|
(Amounts in millions) |
For the fiscal year ended |
||
|
2016 |
2015 |
||
|
Net sales |
$ 3,430.4 |
$ 3,352.8 |
|
|
Cost of goods sold |
(1,720.8) |
(1,704.5) |
|
|
Gross profit |
1,709.6 |
1,648.3 |
|
|
Operating expenses |
(1,054.1) |
(1,053.7) |
|
|
Operating earnings before financial services |
655.5 |
594.6 |
|
|
Financial services revenue |
281.4 |
240.3 |
|
|
Financial services expenses |
(82.7) |
(70.1) |
|
|
Operating income from financial services |
198.7 |
170.2 |
|
|
Operating earnings |
854.2 |
764.8 |
|
|
Interest expense |
(52.2) |
(51.9) |
|
|
Other income (expense) -- net |
(0.6) |
(2.4) |
|
|
Earnings before income taxes and equity earnings |
801.4 |
710.5 |
|
|
Income tax expense |
(244.3) |
(221.2) |
|
|
Earnings before equity earnings |
557.1 |
489.3 |
|
|
Equity earnings, net of tax |
2.5 |
1.3 |
|
|
Net earnings |
559.6 |
490.6 |
|
|
Net earnings attributable to noncontrolling interests |
(13.2) |
(11.9) |
|
|
Net earnings attributable to Snap-on Incorporated |
$ 546.4 |
$ 478.7 |
|
Continued next page
|
Snap-On Incorporated Consolidated Balance Sheets |
||
|
Fiscal Year End |
||
|
(Amounts in millions) |
2016 |
2015 |
|
Cash and cash equivalents |
$ 77.6 |
$ 92.8 |
|
Trade and other accounts receivable - net |
598.8 |
562.5 |
|
Finance receivables - net |
472.5 |
447.3 |
|
Contract receivables - net |
88.1 |
82.1 |
|
Inventories - net |
530.5 |
497.8 |
|
Deferred income tax assets |
0.0 |
109.9 |
|
Prepaid expenses and other assets |
116.5 |
106.3 |
|
Total current assets |
1,884.0 |
1,898.7 |
|
Property and equipment - net |
425.2 |
413.5 |
|
Deferred income tax assets |
72.8 |
106.3 |
|
Long-term finance receivables - net |
934.5 |
772.7 |
|
Long-term contract receivables - net |
286.7 |
266.6 |
|
Goodwill |
895.5 |
790.1 |
|
Other intangibles - net |
184.6 |
195.0 |
|
Other assets |
39.9 |
44.0 |
|
Total assets |
4,723.2 |
4,486.9 |
|
Notes payable and current maturities of long-term debt |
301.4 |
18.4 |
|
Accounts payable |
170.9 |
148.3 |
|
Accrued benefits |
52.8 |
52.1 |
|
Accrued compensation |
89.8 |
91.0 |
|
Franchisee deposits |
66.7 |
64.4 |
|
Other accrued liabilities |
307.9 |
296.3 |
|
Total current liabilities |
989.5 |
670.5 |
|
Long-term debt |
708.8 |
861.7 |
|
Deferred income tax liabilities |
13.1 |
169.8 |
|
Retiree health care benefits |
36.7 |
37.9 |
|
Pension liabilities |
246.5 |
227.8 |
|
Other long-term liabilities |
93.4 |
88.5 |
|
Total liabilities |
2,088.0 |
$ 2,056.2 |
|
Preferred stock |
– |
– |
|
Common stock |
67.4 |
$ 67.4 |
|
Additional paid-in capital |
317.3 |
296.3 |
|
Retained earnings |
3,384.9 |
2,986.9 |
|
Accumulated other comprehensive income (loss) |
(498.5) |
(364.2) |
|
Treasury stock at cost |
(653.9) |
(573.7) |
|
Total shareholders’ equity attributable to Snap-on Inc. |
2,617.2 |
2,412.7 |
|
Noncontrolling interests |
18.0 |
18.0 |
|
Total shareholders’ equity |
2,635.2 |
2,430.7 |
|
Total liabilities and shareholders’ equity |
$ 4,723.2 |
$ 4,486.9 |
Continued next page
Required:
In: Finance
Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid $896,000 in cash to the owners of Taylor to acquire these shares. In addition, the remaining 20 percent of Taylor shares continued to trade at a total value of $224,000 both before and after Miller’s acquisition.On January 1, 2016, Taylor reported a book value of $626,000 (Common Stock = $313,000; Additional Paid-In Capital = $93,900; Retained Earnings = $219,100). Several of Taylor’s buildings that had a remaining life of 20 years were undervalued by a total of $83,400.During the next three years, Taylor reports income and declares dividends as follows:YearNet IncomeDividends2016$73,100$10,500201794,50015,8002018105,30021,100Determine the appropriate answers for each of the following questions:A.What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initial years following this acquisition?B.If a consolidated balance sheet is prepared as of January 1, 2016, what amount of goodwill should be recognized?C.If a consolidation worksheet is prepared as of January 1, 2016, what Entry S and Entry A should be included?D.On the separate financial records of the parent company, what amount of investment income would be reported for 2016 under each of the following accounting methods?The equity method.The partial equity method.The initial value method.E. On the parent company’s separate financial records, what would be the December 31, 2018, balance for the Investment in Taylor Company account under each of the following accounting methods?The equity method.The partial equity method.The initial value method.F. As of December 31, 2017, Miller’s Buildings account on its separate records has a balance of $844,000 and Taylor has a similar account with a $316,500 balance. What is the consolidated balance for the Buildings account?G. What is the balance of consolidated goodwill as of December 31, 2018?H.Assume that the parent company has been applying the equity method to this investment. On December 31, 2018, the separate financial statements for the two companies present the following information:Miller CompanyTaylor CompanyCommon stock$527,500$313,000Additional paid-in capital295,40093,900Retained earnings, 12/31/18654,100444,600a.What amount of excess depreciation expense should be recognized in the consolidated financial statements for the initial years following this acquisition?b. If a consolidated balance sheet is prepared as of January 1, 2016, what amount of goodwill should be recognized?a.Amount of excess depreciationb.Amount of goodwillIf a consolidation worksheet is prepared as of January 1, 2016, what Entry S and Entry A should be included?d. On the separate financial records of the parent company, what amount of investment income would be reported for 2016 under each of the following accounting methods?e. On the parent company’s separate financial records, what would be the December 31, 2018, balance for the Investment in Taylor Company account under each of the following accounting methods?Show lessd. Investment Incomee. Investment BalanceThe equity methodThe partial equity methodThe initial value methodf. As of December 31, 2017, Miller’s Buildings account on its separate records has a balance of $844,000 and Taylor has a similar account with a $316,500 balance. What is the consolidated balance for the Buildings account?g. What is the balance of consolidated goodwill as of December 31, 2018?f.Consolidated balanceg.Consolidated balanceAssume that the parent company has been applying the equity method to this investment. On December 31, 2018, the separate financial statements for the two companies present the following information:Miller CompanyTaylor Company Common stock$527,500$313,000 Additional paid-in capital295,40093,900 Retained earnings, 12/31/18654,100444,600
What will be the consolidated balance of each of these accounts?Show lessCommon stockAdditional paid-in capitalRetained earnings, 12/31/18
In: Accounting
Create a JavaScript function that will collect the information from the form and verify that it is the correct type and that there are no blank textboxes.
Save and test the file to ensure that the textbox information is collected and the script is working correctly.
Use the onclick event within the submit button to call this function.
Output validation error messages by writing directly to the
with the id of "results."(You may want to use alert boxes for testing at first. If you do this, remove the alerts and ensure the message is displayed correctly before submitting.)
Create a loop within the above function that collects the checked value of the radio button group.
Once the value from the radio group is collected,
create a function to pass the value for evaluation and return a message for the user based on his or her selected skill type using the
with the id of "more."Please I need the same result like as in the image you can copy the link to download the image and below is my code fix that thank you!!!
https://devryu.instructure.com/courses/62607/files/9495251/preview
<!DOCTYPE HTML>
<html>
<head>
<meta http-equiv="Content-Type" content="text/html;
charset=UTF-8">
<title>JavaScript Exercises</title>
<style type="text/css">
body {
font-family:Verdana, Geneva, sans-serif;
font-size:100%;
margin:0;
padding:0;
}
p {
color:#900;
margin-left:20px;
}
div#results {
background-color:#FF6;
height:auto;
width:500px;
border:1px solid red;
padding:10px;
margin-left:20px;
-moz-box-shadow: 10px 10px 5px #888;
-webkit-box-shadow: 10px 10px 5px #888;
box-shadow: 10px 10px 5px #888;
border-radius:7px;
}
div#more {
background-color: #39F;
height:auto;
width:500px;
border:1px solid #036;
padding:10px;
margin-left:20px;
margin-top:20px;
-moz-box-shadow: 10px 10px 5px #888;
-webkit-box-shadow: 10px 10px 5px #888;
box-shadow: 10px 10px 5px #888;
color:#CF0;
}
#form1
{
padding: 10px;
width: 500px;
border-style: solid;
border-color: #063;
border-radius: 15px;
-moz-box-shadow: 10px 10px 5px #888;
-webkit-box-shadow: 10px 10px 5px #888;
box-shadow: 10px 10px 5px #888;
background-color: #CFF;
margin:20px;
}
</style>
<script type="text/javascript">
function validateForm(){
var name = document.getElementById("name").value;
var age = document.getElementById("age").value;
if(name == "" || name == null){//checking for null or empty
string
resultsMsg("Hey, you forgot to fill in your name!");
}else{
if(age == "" || age == null || isNaN(age)){
resultsMsg("Age is required!");
}else{
if(!getSkill()){
resultsMsg("Please select a skill");
}else{
resultsMsg("Success, you selected " + getSkill());
}// end else
}
}//end else
}//end function
function getSkill(){
var isChecked = false; // assume no button is checked
var theSelection;
var skills = document.getElementsByName('skillset');// returns an
array
for (var i=0; i < skills.length; i++){
if(skills[i].checked){
isChecked = true;
theSelection = skills[i].value;
break; //leave the loop since only one can be checked
}// end if
}// end for
if(isChecked){
return theSelection;
}else{
return false;
}//end else
}// end function
function resultsMsg(S){
var resultsBox = document.getElementById("results");
//reset to blank by overwriting
resultsBox.innerHTML= S;
}//end function
</script>
</head>
<body>
<p>First Paragraph</p>
<p>Second Paragraph</p>
<form name="form1" id="form1" action="" method="post">
<label>First Name:
<input type="text" id="name" name="name">
</label>
<br> <!-- new line here -->
<label>Your Age:
<input type="text" id="age" name="age">
</label>
<br> <!-- new line here -->
<input type="radio" name="skillset"
value="Designer">Designer<br>
<input type="radio" name="skillset"
value="Developer">Developer<br>
<input type="radio" name="skillset"
value="Programmer">Programmer<br>
<input type="radio" name="skillset"
value="Artist">Artist<br>
<input type="button" value="Submit"
onclick="validateForm();"> <input
type="reset" value="Clear Form">
</form>
<div id="results"></div>
<div id="more">You did not selected a Skill</div>
</body>
</html>
In: Computer Science
This is for Cosmochemistry
a) Assuming you wanted to study aqueously mediated chemistry and parent-body processing on an asteroid in the early solar system, name two materials you might study and why.
b) In comparison, if you were interested in understanding vapor-phase condensation in the early solar nebula, name two materials you might examine and why.
In: Chemistry
1. Define misinformation and disinformation in your own words.
2. How does misinformation and disinformation spread online?
3. Name two countries or regions in the world that monitor and try to curb disinformation
4. Briefly explain their efforts. Name three countries where governments are working to spread disinformation? How do they spread the disinformation?
In: Operations Management
4. What is the most popular application service? a. World Wide
Web
b. E-mail
c. P2P
d. eBay
9. The different top-level domains represent which of the
following? (Choose all correct answers.) a. Type of
organization
b. Country of origin
c. Company or brand name
d. File server name
In: Physics
Diaspora Bonds:
A) Name 2 advantages diaspora bonds have over a traditional local currency bond a
country might issue.
B) How might diaspora bonds benefit a country more than remittances?
C) Name 2 reasons why a diaspora bond might fail to attract sufficient interest from the
diaspora.
In: Finance
Besmite industries want to introduce a new product that is similar to their competitors. The target price is $400 and Bismite desired profit is 25%. What is the target cost? AND, assuming their costs are over this target cost, what is the name of the process they go through next? If you can not recall the name of the process, list three things they can or cannot do.
In: Accounting
Create and submit a Python program (in a module) that contains a main function that prints 17 lines of the following text containing your name:
Welcome to third week of classes at College, <your name here>!
can someone please show me how to do this step by step? I'm just confused and keep getting errors in idle.
In: Computer Science