Refer to the 3.00% senior notes due May 2027. Calculate the interest expense on this note for fiscal year 2022. **Costco Wholesale Corporation Financial Summary****Page 34: Consolidated Statements of Income**- **Period Ending**: August 29, 2021; August 30, 2020; September 1, 2019- **Revenue**: - Net sales: $192,052M (2021), $163,220M (2020), $149,351M (2019) - Membership fees: $3,877M (2021), $3,541M (2020), $3,352M (2019) - Total revenue: $195,929M (2021), $166,761M (2020), $152,703M (2019)- **Operating Expenses**: - Merchandise costs, selling, general, and administrative expenses, and preopening expenses detailed- **Income**: - Operating income, interest expense, other income, income before taxes provided - Net income attributable to Costco and per share earnings both basic and diluted are shown for each year **Page 36: Consolidated Balance Sheets**- **Assets**: - Current assets (cash, short-term investments, etc.) - Other assets (property and equipment, operating lease assets) - Total assets: $59,288M (2021), $55,556M (2020)- **Liabilities and Equity**: - Current liabilities include accounts payable, accrued liabilities, other current liabilities - Other liabilities, long-term debt, and total equity detailed - Total equity amounts and shareholder information provided**Page 41: Receivables and Merchandise Inventories**- **Receivables, Net**: - Descriptions of accounts used to calculate receivables, including allowances for credit losses- **Merchandise Inventories**: - Inventory valuation methods explained - Inventory values for the U.S., Canada, and other international locations presented for 2021 and 2020.**Page 49-50: Note on Debt**- **Long-Term Debt**: - Structures of long-term debt, including Senior Notes, are outlined - Maturities and the value of these notes from 2022 to 2026, and thereafter, are specifiedThis summary provides an overview of Costco's financial status, focusing on income statements, balance sheets, and strategic financial notes, highlighting key data points and methodologies from

Answered: Refer to the 3.00% senior notes due May…

Business

Accounting

Refer to the 3.00% senior notes due May 2027. Calculate the interest expense on this note for fiscal year 2022.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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