Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,200,000,000
Cost of Goods Sold	$700,000,000
Operating Expenses	$400,000,000
Income Tax Expense	$60,000,000
Net Income	$40,000,000

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 recognizes revenue from online sales.
5. Evaluate Amazon's profitability using the return on equity (ROE) ratio.
6. Explain the significance of the Income Measurement Objective in Amazon’s financial planning and strategic decisions.