Chevron Corporation Comparative Financial Statements

Income Statement for Years Ended December 31, 2021, 2022, 2023

• Sales: $155,372, $165,328, $175,475
• Cost of Goods Sold: $86,927, $92,548, $97,894
• Gross Profit: $68,445, $72,780, $77,581
• Operating Expenses: $30,362, $31,245, $32,382
• Operating Income: $38,083, $41,535, $45,199
• Interest Expense: $3,027, $3,112, $3,198
• Income Before Tax: $35,056, $38,423, $41,001
• Income Tax Expense: $7,244, $7,943, $8,527
• Net Income: $27,812, $30,480, $32,474

Balance Sheet as of December 31, 2021, 2022, 2023

• Assets
  • Current Assets: $42,763, $45,290, $48,134
  • Property, Plant, Equipment, Net: $163,498, $168,295, $173,728
  • Intangible Assets: $9,837, $10,327, $10,894
  • Total Assets: $216,098, $223,912, $232,756
• Liabilities and Equity
  • Current Liabilities: $37,926, $39,723, $41,594
  • Long-Term Debt: $81,762, $83,794, $86,127
  • Shareholders' Equity: $96,410, $100,395, $105,035
  • Total Liabilities and Equity: $216,098, $223,912, $232,756

Requirements

1. Compute the gross profit margin for each year.
2. Determine the operating income as a percentage of sales for each year.
3. Calculate the interest coverage ratio for each year.
4. Assess the quick ratio for each year.