ExxonMobil Corporation reported the following for the year ending December 31, 2023:

Item	Amount ($)
Revenue	400,000,000
Cost of Goods Sold	240,000,000
Operating Expenses	100,000,000
Interest Expense	8,000,000
Tax Expense	20,000,000
Dividends Paid	30,000,000
Beginning Retained Earnings	40,000,000

Requirements:

1. Prepare an Income Statement.
2. Calculate the Gross Profit Margin.
3. Draft a Statement of Retained Earnings.
4. Determine the Earnings per Share with 250,000 shares outstanding.
5. Assess the impact of a 10% increase in operating expenses on net income.