Exxon Mobil Corporation Comparative Financial Statements

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

• Sales: $277,783, $287,653, $298,459
• Cost of Goods Sold: $172,789, $180,326, $189,492
• Gross Profit: $104,994, $107,327, $108,967
• Selling, General, Administrative Expenses: $25,987, $26,574, $27,235
• Operating Income: $79,007, $80,753, $81,732
• Interest Expense: $2,893, $2,948, $2,989
• Income Before Tax: $76,114, $77,805, $78,743
• Income Tax Expense: $16,445, $16,995, $17,255
• Net Income: $59,669, $60,810, $61,488

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

• Assets
  • Current Assets: $103,887, $108,563, $111,947
  • Property, Plant, Equipment, Net: $222,093, $225,748, $229,203
  • Intangible Assets: $12,837, $13,205, $13,987
  • Total Assets: $338,817, $347,516, $355,137
• Liabilities and Equity
  • Current Liabilities: $47,456, $49,105, $50,238
  • Long-Term Debt: $87,394, $89,563, $91,038
  • Shareholders' Equity: $203,967, $208,848, $213,861
  • Total Liabilities and Equity: $338,817, $347,516, $355,137

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.