ExxonMobil
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,100,000,000
Cost of Goods Sold	$600,000,000
Operating Expenses	$400,000,000
Income Tax Expense	$70,000,000
Net Income	$30,000,000

Requirements:

1. Calculate ExxonMobil's gross profit margin.
2. Determine ExxonMobil's operating profit margin.
3. Discuss the effect of income tax expense on ExxonMobil's net income.
4. Evaluate how ExxonMobil recognizes revenue from oil and gas sales.
5. Explain the significance of the Income Measurement Objective in ExxonMobil's financial reporting.
6. Analyze the impact of ExxonMobil's financial performance on its investment in renewable energy.