For a recent period, the balance sheet for Costco Wholesale Corporation reported accrued expenses of $1,893 million. For the same period, Costco reported income before income taxes of $2,054 million. Assume that the adjusting entry for $1,893 million of accrued expenses was not recorded at the end of the current period. What would have been the income (loss) before income taxes?
Answer:
Income: $3,947 million ($2,054 + $1,893)