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Question: Costco Wholesale Corporation owns and operates


Costco Wholesale Corporation owns and operates membership warehouses in the United States, Canada, United Kingdom, Mexico, Japan, Korea, Australia, Spain, France, and Iceland. Costco also engages in retail operations through a majority-owned subsidiary in Taiwan. The outside equity interests (not owned by Costco) in the Taiwanese subsidiary are presented as noncontrolling interests in Costco’s consolidated financial statements.
Access Costco’s 2018 10-K annual report, and answer the following:
1. How does Costco present the noncontrolling interest in the following financial statements?
∙ Consolidated Balance Sheet
∙ Consolidated Income Statement
∙ Consolidated Statement of Other Comprehensive Income
∙ Consolidated Statement of Cash Flows
2. Explain how Costco’s presentations of the noncontrolling interest reflect the acquisition method for consolidated financial reporting as a single economic entity.

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