General Electric
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$800,000,000
Cost of Goods Sold	$500,000,000
Operating Expenses	$250,000,000
Income Tax Expense	$25,000,000
Net Income	$25,000,000

Requirements:

1. Calculate General Electric's gross profit margin.
2. Determine General Electric's operating profit margin.
3. Analyze the impact of income tax expense on General Electric's net income.
4. Discuss how General Electric recognizes revenue from industrial equipment sales.
5. Evaluate General Electric's profitability using the return on assets (ROA) ratio.
6. Explain the significance of the Income Measurement Objective in General Electric’s financial reporting and operational efficiency.