Belоw is the finаnciаl dаta fоr Micrоn Technologies (ticker: MU). You want to better understand the profitability of their operations. What is their Profit Margin for 2022, and how did it change relative to 2021? FINANCIAL STATEMENT DATE: 10-K from 10/7/2022 CONSOLIDATED STATEMENTS OF EARNINGS – USD ($) in Millions 12 Months Ended Description September 1, 2022 September 2, 2021 Net Sales 30,758 27,705 Cost of Goods Sold 16,860 17,282 Selling, General and Administrative Expense 1,066 894 Research and Development (R&D) 3,116 2,663 Restructuring and Asset Impairments 48 488 Other Operating Income (Expense), Net (34) 95 Operating Income (EBIT) 9,702 6,283 Interest Expense 189 183 Interest Income 96 37 Other Nonoperating Income (Expense) (38) 81 Earnings from Continuing Operations Before Income Taxes 9,571 6,218 Income Taxes 888 394 Net Income Attributable to Common Shareholders 8,683 5,824 Depreciation (from Statement of Cash Flows) 7,116 6,214 Weighted Average Cost of Capital (WACC) 8.76% 9.18% Tax Rate 9.28% 6.34% Stock Price on 09/01/22 $57.19
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