Ford Motor Company
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,200,000,000
Cost of Goods Sold	$750,000,000
Operating Expenses	$350,000,000
Income Tax Expense	$50,000,000
Net Income	$50,000,000

Requirements:

1. Calculate Ford's gross profit margin.
2. Determine Ford's operating profit margin.
3. Discuss the effect of income tax expense on Ford's net income.
4. Evaluate how Ford recognizes revenue from vehicle sales.
5. Explain the significance of the Income Measurement Objective in Ford's financial reporting.
6. Analyze the impact of Ford's financial performance on its production efficiency.