Oracle Corporation
 Data for the year ended December 31, 2023:

Item	Amount
Total Revenue	$600,000,000
Cost of Goods Sold	$400,000,000
Operating Expenses	$150,000,000
Income Tax Expense	$30,000,000
Net Income	$20,000,000

Requirements:

1. Calculate Oracle's gross profit margin.
2. Determine Oracle's operating profit margin.
3. Analyze the impact of income tax expense on Oracle's net income.
4. Discuss how Oracle recognizes revenue from cloud services.
5. Evaluate Oracle's profitability using the return on assets (ROA) ratio.
6. Explain the role of the Income Measurement Objective in Oracle’s financial planning and performance evaluation.