Evaluate the financial performance of Mosul Motors Corporation for the fiscal year ended December 31, 2023, based on the following key financial metrics:

• Sales Revenue: IQD 200,000,000
• Cost of Goods Sold: IQD 120,000,000
• Operating Expenses: IQD 40,000,000
• Net Income: IQD 40,000,000

• Provide a concise analysis of the company's performance, highlighting any notable trends or changes compared to the previous year. Discuss factors contributing to the company's profitability and overall financial health.