American Express
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,000,000,000
Cost of Goods Sold	$600,000,000
Operating Expenses	$350,000,000
Income Tax Expense	$30,000,000
Net Income	$20,000,000

Requirements:

1. Calculate American Express's gross profit margin.
2. Determine American Express's operating profit margin.
3. Analyze the impact of income tax expense on American Express's net income.
4. Discuss how American Express recognizes revenue from financial services.
5. Evaluate American Express's profitability using the return on assets (ROA) ratio.
6. Explain the significance of the Income Measurement Objective in American Express’s financial management and strategic growth.