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Data for the year ended December 31, 2023: Item Amount Revenue $90,000,000,000 Cost of Goods Sold $70,000,000,000 Operating Expenses $15,000,000,000 Income Tax Expense $5,000,000,000 Net
Data for the year ended December 31, 2023:
Item | Amount |
Revenue | $90,000,000,000 |
Cost of Goods Sold | $70,000,000,000 |
Operating Expenses | $15,000,000,000 |
Income Tax Expense | $5,000,000,000 |
Net Income | $5,000,000,000 |
Total Assets | $250,000,000,000 |
Total Liabilities | $150,000,000,000 |
Shareholders' Equity | $100,000,000,000 |
Requirements:
- Calculate General Motors' gross profit margin.
- Determine General Motors' operating profit margin.
- Analyze the impact of income tax expense on General Motors' net income.
- Evaluate how General Motors recognizes revenue from automotive sales.
- Explain the significance of the Income Measurement Objective in General Motors' financial reporting.
- Discuss General Motors' debt-to-equity ratio and liquidity position.
- Perform a Cost-Benefit Analysis of General Motors' investment in electric vehicle technology.
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