ABC Corporation, a real estate company, reports the following financial data for the year ended December 31, 2022:

Total Revenue: $9,000,000

Cost of Goods Sold: $5,500,000

Operating Expenses: $2,000,000

Depreciation Expense: $300,000

Interest Expense: $200,000

Income Tax Expense: $300,000

Accounts Receivable: $1,000,000

Inventory: $2,000,000

Accounts Payable: $1,500,000

Total Current Assets: $3,500,000

Total Current Liabilities: $2,000,000

Requirements:

Prepare an income statement for ABC Corporation for the year ended December 31, 2022.

Calculate the gross profit margin.

Determine the net profit margin.

Compute the current ratio.

Calculate the inventory turnover ratio.