AT&T Inc.
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,150,000,000
Cost of Goods Sold	$700,000,000
Operating Expenses	$400,000,000
Income Tax Expense	$30,000,000
Net Income	$20,000,000

Requirements:

1. Calculate AT&T's gross profit margin.
2. Determine AT&T's operating profit margin.
3. Analyze the impact of income tax expense on AT&T's net income.
4. Discuss how AT&T recognizes revenue from telecommunications services.
5. Evaluate AT&T's profitability using the return on equity (ROE) ratio.
6. Explain the significance of the Income Measurement Objective in AT&T’s financial management and operational efficiency.