am. 17. (a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%. Costco Wholesale CorporationConsolidated Statements of EarningsFor Fiscal Years Ended ($ millions)Total revenueOperating expensesMerchandise costsSelling, general and administrativePreopening expensesOperating IncomeOther (income) expenseInterest expenseInterest income and other, netIncome before income taxesProvision for income taxesNet income including noncontrolling interestsNet income attributable to noncontrolling interestsNet income attributable to CostcoSeptember2, 2018$142,709124,28513,8761,2013,347159(121)3,3091,2632,046(45)$2,001

The operating income refers to the revenues of the company after adjusting for operational expenses.…

Answered: (a) Compute net operating profit after…

(a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 24E

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Question

am. 17.

(a) Compute net operating profit after tax (NOPAT) for 2018. Assume that the combined federal and state statutory tax rate is 22%.

Costco Wholesale Corporation
Consolidated Statements of Earnings
For Fiscal Years Ended ($ millions)
Total revenue
Operating expenses
Merchandise costs
Selling, general and administrative
Preopening expenses
Operating Income
Other (income) expense
Interest expense
Interest income and other, net
Income before income taxes
Provision for income taxes
Net income including noncontrolling interests
Net income attributable to noncontrolling interests
Net income attributable to Costco
September
2, 2018
$142,709
124,285
13,876
1,201
3,347
159
(121)
3,309
1,263
2,046
(45)
$2,001

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