11. JPMorgan Chase & Co. released the following financial information for the fiscal year ending December 31, 2023:

Item	Amount (in $ millions)
Total Revenue	123,600
Cost of Goods Sold	25,400
Operating Expenses	75,800
Net Income	22,400

Calculate JPMorgan Chase & Co.'s gross profit margin, operating profit margin, and net profit margin. Interpret these margins and discuss their implications for the company's financial performance and profitability in the banking industry.