Questions
Costco Wholesale Corporation Consolidated Statements of Earnings For Fiscal Years Ended ($ millions) August 28, 2016...

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

Income statements and balance sheets follow for Snap-On Incorporated. Refer to these financial statements to answer...

  1. 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 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:

  1. Compute net operating profit after tax (NOPAT) for 2016 and 2015. Assume that combined federal and state statutory tax rates are 37% for fiscal 2016 and 2015.
  2. Compute net operating assets (NOA) for 2016 and 2015.
  3. Compute return on net operating assets (RNOA) for 2016 and 2015. Net operating assets are $3,011.7 million in 2014.
  4. Compute return on equity (ROE) for 2016 and 2015. (Stockholders’ equity attributable to Snap-On in 2014 is $2,207.8 million.)
  5. What is nonoperating return component of ROE for 2016 and 2015?
  6. Comment on the difference between ROE and RNOA. What inference do you draw from this comparison?

In: Finance

Miller Company acquired an 80 percent interest in Taylor Company on January 1, 2016. Miller paid...

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...

  1. 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.

  2. Save and test the file to ensure that the textbox information is collected and the script is working correctly.

  3. Use the onclick event within the submit button to call this function.

  4. 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.)

  5. Create a loop within the above function that collects the checked value of the radio button group.

  6. 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: &nbsp;
<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();"> &nbsp; &nbsp; <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...

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.

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...

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...

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...

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...

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