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Google's financial activities for the year 2023 are summarized as follows: Sales Revenue: $180,000,000 Cost of Goods Sold: $70,000,000 Operating Expenses: $60,000,000 Interest Income: $3,000,000
Google's financial activities for the year 2023 are summarized as follows:
- Sales Revenue: $180,000,000
- Cost of Goods Sold: $70,000,000
- Operating Expenses: $60,000,000
- Interest Income: $3,000,000
- Interest Expense: $5,000,000
- Tax Rate: 20%
Requirements:
- Prepare an Income Statement for Google for the year 2023.
- Calculate the Gross Profit.
- Determine the Operating Income.
- Compute the Net Income after taxes.
- Discuss the significance of Interest Income and Expense in Google's financial performance.
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