Use the following excerpt from Dragonfly Corporations balance sheet and its income statement to compute Dragonflys profit
Question:
Use the following excerpt from Dragonfly Corporation’s balance sheet and its income statement to compute Dragonfly’s profit margin and return on assets for 2022 and 2023. Comment on Dragonfly’s profitability and changes in profitability from 2022 to 2023. Dragonfly’s total assets at the end of 2021 were $157,534 million.
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Assets (dollars in millions) Current Assets Cash and Cash Equivalents Marketable Securities Accounts Receivable Trade, Net Inventories Prepaid Expenses and Other Receivables Total Current Assets Property, Plant, and Equipment, Net Other Assets Total Assets (in millions) Sales Cost of Goods Sold Gross Profit Selling, General, and Administrative Expenses Research and Development Expense Interest Expense Earnings before Taxes Income Tax Expense Net Income 2023 $ 13,420 7,623 22,120 47,415 1,312 91,890 67,045 3,773 $162,708 2023 $ 63,762 33,092 30,670 15,335 7,052 145 8,138 2,848 $ 5,290 2022 $ 19,355 2,394 20,872 45,630 1,264 89,515 65,762 3,770 $159,047 2022 $ 61,890 30,096 31,794 15,897 7,844 142 7,911 2,769 $5,142
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Related Book For
Intermediate Accounting
ISBN: 9780136946694
3rd Edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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