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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
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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