Company: Amazon.com, Inc.
 Data for the year ended December 31, 2023:

Item	Amount
Net Sales	$500,000,000
Cost of Goods Sold	$300,000,000
Operating Expenses	$150,000,000
Income Tax Expense	$50,000,000
Net Income	$50,000,000

Requirements:

1. Calculate Amazon's gross profit margin.
2. Determine Amazon's operating profit margin.
3. Analyze the impact of income tax expense on Amazon's net income.
4. Discuss how Amazon's revenue recognition policy affects its financial statements.
5. Evaluate Amazon's profitability using the return on equity (ROE) ratio.
6. Assess the role of the Income Measurement Objective in Amazon’s financial reporting and performance evaluation.