Using the attached balance sheet and income statement, answer the following.In 2018, Costco’s return on equity (ROE) is 26.59% and its return on net operating assets (RNOA) is 26.52%. Assume that the combined federal and state statutory tax rate is 22%.a. Compute net nonoperating expense (NNE) and net operating profit after tax (NOPAT). Round to the nearest whole number, if applicable. 2018 NNE million2018 NOPAT millionb. Compute net nonoperating obligations (NNO) for 2018 and 2017.2018 NNO million2017 NNO million c. Compute financial leverage (FLEV). Round answer to four decimal places. 2018 FLEV d. Compute NNEP and Spread. Round answers to two decimal places (example: 0.12345 = 12.35%).2018 NNEP %2018 Spread %e. Compute the noncontrolling interest ratio (NCI ratio). Round answer to four decimal places. 2018 NCI Ratio f. Confirm the relation: ROE = [RNOA + (FLEV × Spread)] × NCI ratio.2018 ROE =% = [ % +( X %)] X

QuizNote: It is recommended that you save your response as you complete each question.Question 1 (1 point) Which of the following is true about the differences between financial and managerial accounting?Question 1 options:Managerial accounting presents less non-monetary information than financial accountingManagerial accounting cannot deviate from generally accepted accounting principlesManagerial accounting places more emphasis on the futureManagerial accounting presents information in a highly summarized formSaveQuestion 2 (1 point) Elroy Rocket is entering his senior year as an accounting major and has a number of options for his summer break. His options for the 3 month break follow:(1) Work full time at a local accounting firm making $3,950 per month.(2) Take a summer class which will cost $800 and work half time making $1,100 per month.(3) Take a class at a cost of $800 and not work at all during the summer.Elroy's incremental profit or loss if he chooses option 2 over option 1 would beYour Answer:Question 2 options:AnswerSaveQuestion 3 (1 point) Triton Company's copy department, which does almost all of the photocopying for the sales department and the administrative department, budgets the following costs for the year, based on the expected activity of copies:Salaries (fixed)$86,000Employee benefits (fixed)10,000Depreciation of copy machines (fixed)10,000Utilities (fixed)5,000Paper (variable, 1 cent per copy)50,000Toner (variable, 1 cent per copy)50,000The costs are assigned to two cost pools, one for fixed and one for variable costs. The costs are then assigned to the sales department and the administrative department. Fixed costs are assigned on a lump-sum basis, 40 percent to sales and 60 percent to administration. The variable costs are assigned at a rate of 2 cents per copy.Assuming the following copies were made during the year, 2,759,250 for sales and 2,373,500 for administration, calculate the copy department costs allocated to sales.Your Answer:Question 3 options:AnswerSaveQuestion 4 (1 point) Which organizational officer is directly responsible for managing a company's cash and funds invested in various marketable securities?Question 4 options:ControllerTreasurerCIOCFOSaveQuestion 5 (1 point) Mama Italiano Sauce is in the process of preparing a production cost budget for May.  The actual costs in April were:Mama Italian SauceProduction Cost BudgetApril 2008Production - Jars of sauce20,000Ingredient cost (variable)$16,000Labor cost (variable)9,000Rent (fixed)4,000Depreciation (fixed)6,000Other (fixed)1,000Total$36,000Using this information, prepare a budget for May stating the total amount for the May budget.  Assume the budget will increase to 23,500 jars of sauce reflecting anticipated sales increase related to a new marketing campaignYour Answer:Question 5 options:AnswerSaveQuestion 6 (1 point) Consider the production cost information for Mama Italiano Sauce given below:Mama Italian SauceProduction Cost BudgetApril 2008Production - Jars of sauce20,000Ingredient cost (variable)$16,000Labor cost (variable)9,000Rent (fixed)4,000Depreciation (fixed)6,000Other (fixed)1,000Total$36,000The company is currently producing and selling jars of sauce  The jars of sauce sell for $4 per jar.  The company is considering lowering the price to $3.70 per jar.  Suppose this action will increase sales.  What is the incremental costs associated with producing an extra 72,500 jars of sauce?Your Answer:Question 6 options:AnswerSaveQuestion 7 (1 point) Consider the production cost information for Mama Italiano Sauce given below:Mama Italiano SauceProduction Cost BudgetApril 2008Production - Jars of sauce20,000Ingredient cost (variable)$16,000Labor cost (variable)9,000Rent (fixed)4,000Depreciation (fixed)6,000Other (fixed)1,000Total$36,000The company is currently producing and selling 250,000 jars of sauce annually.  The jars of sauce sell for $4 per jar.  The company is considering lowering the price to $3.75 per jar.  Suppose this action will increase sales to 315,000 jars of sauce.  What is the incremental revenue associated with the price reduction of sauce?Your Answer:Question 7 options:AnswerSaveQuestion 8 (1 point) Ceradyne projects its factory rent to be $6,000 in August when 8,600 units are expected to be produced. If rent is a fixed cost, and if production is expected to drop to 7,000 units in September, what is the expected cost of rent in September?Question 8 options:The answer can not be determined with the information that is given$4,884$4,900$6,000Save