For the year ended December 31, 2023, the financial data for Chevron Corporation is as follows:

• Revenue: $17,500,000
• Cost of goods sold: $12,000,000
• Gross profit: $5,500,000
• Operating expenses: $4,200,000
• Net income: $1,500,000
• Dividends paid: $600,000
• Cash: $2,000,000
• Accounts receivable: $1,700,000
• Inventory: $1,400,000
• Property, plant, and equipment: $7,000,000
• Accumulated depreciation: $1,500,000
• Accounts payable: $1,200,000
• Long-term debt: $2,000,000

Requirements:

1. Prepare an income statement for the year ended December 31, 2023.
2. Prepare a balance sheet as of December 31, 2023.
3. Calculate the gross profit margin.
4. Determine the debt-to-equity ratio.
5. Compute the net profit margin.