General Electric Company, a multinational conglomerate, reported total revenues of $10,000,000 for the fiscal year 2023. In addition to the revenue figure, the company incurred various expenses. The cost of goods sold amounted to $5,000,000, which includes the direct costs associated with manufacturing its products. Operating expenses, including salaries, utilities, and marketing expenses, totaled $2,000,000. General Electric also paid $500,000 in interest expenses on its outstanding debt. Calculate the net income for General Electric Company in 2023, taking into account these revenue and expense figures. Provide a comprehensive breakdown of the calculation process, including the formula used, and discuss the significance of net income as a measure of profitability in evaluating General Electric's financial performance. Additionally, analyze the implications of the calculated net income figure on the company's stakeholders, including investors, creditors, and management.