Facebook, Inc. is preparing its financial statements for 2023. The financial data includes:

Transactions (in $ millions)	Amount
Cash Sales	1,300
Credit Sales	700

Requirements:

• Prepare Facebook, Inc.'s income statement for 2023, focusing on revenue and operating expenses.
• Calculate and interpret the operating cash flow and free cash flow.
• Discuss the accounting treatment of advertising expenses.
• Analyze the impact of changes in fair value of derivative financial instruments.
• Prepare a schedule of accrued liabilities for Facebook, Inc. as of December 31, 2023.