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Review the following comparative income statements for Coca-Cola Company for the years ended December 31, 2022, and 2021. Coca-Cola Company 2022 2021 Sales $43,004 $38,655
Review the following comparative income statements for Coca-Cola Company for the years ended December 31, 2022, and 2021.
Coca-Cola Company | 2022 | 2021 |
Sales | $43,004 | $38,655 |
Cost of Goods Sold | $19,751 | $17,528 |
Gross Profit | $23,253 | $21,127 |
Operating Expenses | $13,427 | $12,890 |
Net Income | $9,542 | $8,654 |
Requirements:
- Calculate the gross profit margin for each year.
- Calculate the operating profit margin for each year.
- Compute the net profit margin for each year.
- Discuss the factors contributing to the changes in Coca-Cola's profitability from 2021 to 2022.
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