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Amazon.com, Inc. is analyzing its financial performance for the fiscal year 2023. The following financial data is available: Transactions (in $ millions) Amount Cash Sales
Amazon.com, Inc. is analyzing its financial performance for the fiscal year 2023. The following financial data is available:
Transactions (in $ millions) | Amount |
Cash Sales | 2,500 |
Credit Sales | 1,500 |
Requirements:
- Prepare Amazon.com, Inc.'s income statement for 2023, using the direct method for operating cash flows.
- Calculate and interpret the gross profit margin and operating profit margin.
- Discuss the accounting treatment of inventory under the lower of cost or market rule.
- Analyze the impact of changes in fair value of derivative financial instruments.
- Prepare a schedule of accounts payable for Amazon.com, Inc. as of December 31, 2023.
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