Cost of Goods Sold and Gross Profit

Using the Income Statement and Notes for your company, answer the questions below:
1.

What were your companies’ net revenues for 2022? Is this an increase over the previous year? Does it appear that COVID-19 affected their revenues’ trend?

2.

What is the Cost of Goods Sold and Gross Profit for each company?

3.

Calculate Gross Profit Margin percentage. Compare between your companies and discuss the differences.

4.

What were your companies’ largest expenses (other than Cost of Goods Sold) for 2022? What is the percentage of operating expenses of gross profit? Which company is in a better position?