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Abbott Laboratories reported the following financial information for the year ending December 31, 2023: Total Revenue: $50 billion Cost of Goods Sold (COGS): $20 billion
Abbott Laboratories reported the following financial information for the year ending December 31, 2023:
- Total Revenue: $50 billion
- Cost of Goods Sold (COGS): $20 billion
- Operating Expenses: $15 billion
- Other Income: $5 billion
- Tax Expense: $10 billion
a) Calculate the gross profit. b) Determine the operating profit. c) Compute the net profit before tax. d) Calculate the net profit after tax, assuming a tax rate of 20%.
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