Caterpillar Inc.
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$600,000,000
Cost of Goods Sold	$350,000,000
Operating Expenses	$200,000,000
Income Tax Expense	$25,000,000
Net Income	$25,000,000

Requirements:

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