LG Electronics' financial information for 2023:

• Revenues:
  • Sales Revenue: $310,000,000
  • Other Income: $15,000,000
• Expenses:
  • COGS: $190,000,000
  • Operating Expenses: $95,000,000
  • Interest Expense: $4,000,000
  • Tax Rate: 20%

Requirements:

1. Prepare an income statement for LG Electronics for the year 2023.
2. Calculate the gross profit.
3. Determine the operating income.
4. Calculate the net income after taxes.
5. Evaluate the profit margin ratio for LG Electronics.