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Following the Income Statement above, please correct the horizontal analysis below: CHEVRON COMPANY Comparative Income Statements For the Years Ended December 31 Increase (Decrease) 2022-12-31

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Following the Income Statement above, please correct the horizontal analysis below:

CHEVRON COMPANY

Comparative Income Statements

For the Years Ended December 31

Increase (Decrease)
2022-12-31 2021-12-31 Amount % Change
Sales $246,252 $162,465 $83,787 51.57%
Costs of Goods Sold $149,448 $96,212 $53,236 55.33%
Gross margin $96,804 $66,253 $30,551 46.11%
Operating Expenses $47,130 $44,614 $2,516 5.64%
Net Operating Income $49,674 $21,639 $28,035 129.56%
Interst expense
Net Income before Taxes $49,674 $21,639 $28,035 129.56%
Less Income Taxes $14,066 $5,950 $8,116 136.40%
Net Income $35,465 $15,625 $19,840 126.98%

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