Financial Data for ExxonMobil for 2023:

Income Statement Data (in billions):

• Revenue: $264.94
• Cost of Goods Sold: $139.50
• Selling, General and Administrative: $33.75
• Research and Development: $2.67
• Interest Expense: $3.20
• Tax Rate: 21%

Requirements:

1. Prepare the Income Statement for ExxonMobil for 2023.
2. Compute the Gross Margin.
3. Determine the Operating Income.
4. Calculate the Net Income after taxes.
5. Assess the return on sales (ROS) ratio for ExxonMobil.