Question
The financial summary for ExxonMobil for the year ended December 31, 2023, is provided below: Income Statement: Total Revenue: $3,400,000 Cost of Goods Sold: $2,600,000
The financial summary for ExxonMobil for the year ended December 31, 2023, is provided below:
Income Statement:
Total Revenue: $3,400,000
Cost of Goods Sold: $2,600,000
Operating Expenses: $1,200,000
Income Tax: $120,000
Net Profit: -$520,000 (Net Loss)
Balance Sheet:
Cash: $340,000
Accounts Receivable: $600,000
Inventory: $650,000
Fixed Assets: $1,300,000
Current Liabilities: $580,000
Long-term Debt: $700,000
Shareholders’ Equity: $1,600,000
Calculate the return on equity (ROE).
Determine the current ratio.
Find the quick ratio.
Compute the debt-to-equity ratio.
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