Facebook (Meta)
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,000,000,000
Cost of Goods Sold	$500,000,000
Operating Expenses	$400,000,000
Income Tax Expense	$50,000,000
Net Income	$50,000,000

Requirements:

1. Calculate Facebook's gross profit margin.
2. Determine Facebook's operating profit margin.
3. Analyze the impact of income tax expense on Facebook's net income.
4. Discuss how Facebook recognizes revenue from advertising services.
5. Evaluate Facebook's profitability using the return on equity (ROE) ratio.
6. Explain the significance of the Income Measurement Objective in Facebook’s financial planning and investor communication.