Financial Overview for AT&T Inc. for 2023:

Income Statement Data (in millions):

• Revenue: $171,760
• Cost of Goods Sold: $91,300
• Selling, General and Administrative: $51,300
• Research and Development: $8,500
• Interest Expense: $9,600
• Tax Rate: 21%

Requirements:

1. Prepare the Income Statement for AT&T Inc. for 2023.
2. Compute the Gross Margin.
3. Determine the Operating Income.
4. Calculate the Net Income after taxes.
5. Assess the return on sales (ROS) ratio for AT&T Inc.