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

Item	Amount
Revenue	$350,000,000
Cost of Goods Sold	$200,000,000
Operating Expenses	$120,000,000
Income Tax Expense	$20,000,000
Net Income	$10,000,000

Requirements:

1. Calculate General Motors' gross profit margin.
2. Determine General Motors' operating profit margin.
3. Analyze the impact of income tax expense on General Motors' net income.
4. Discuss how General Motors' revenue recognition policy affects its financial statements.
5. Evaluate General Motors' profitability using the return on equity (ROE) ratio.
6. Explain the role of the Income Measurement Objective in General Motors’ financial planning and performance evaluation.