Pfizer Inc. Comparative Financial Statements

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

• Sales: $81,288, $82,000, $85,300
• Cost of Goods Sold: $23,857, $24,200, $25,000
• Gross Profit: $57,431, $57,800, $60,300
• Selling, General, Administrative Expenses: $22,930, $23,000, $23,500
• Operating Income: $34,501, $34,800, $36,800
• Interest Expense: $1,850, $1,900, $1,950
• Income Before Tax: $32,651, $32,900, $34,850
• Income Tax Expense: $6,530, $6,580, $6,970
• Net Income: $26,121, $26,320, $27,880

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

• Assets
  • Current Assets: $65,190, $67,800, $70,300
  • Property, Plant, Equipment, Net: $13,857, $14,200, $14,600
  • Intangible Assets: $48,857, $49,300, $50,200
  • Total Assets: $127,904, $131,300, $135,100
• Liabilities and Equity
  • Current Liabilities: $29,857, $30,000, $30,300
  • Long-Term Debt: $42,857, $43,000, $44,000
  • Shareholders' Equity: $55,190, $58,300, $60,800
  • Total Liabilities and Equity: $127,904, $131,300, $135,100

Requirements

1. Calculate the gross profit margin for each year.
2. Determine the operating income as a percentage of sales for each year.
3. Compute the debt to equity ratio for each year.
4. Assess the return on assets for each year.