1. Prepare an income statement for Apple Inc. for the year ended December 31, 2023.
2. Calculate the Gross Profit Margin.
3. Assess the company's profitability.

Item	Amount ($)
Sales Revenue	3,500,000
Cost of Goods Sold	2,000,000
Operating Expenses	800,000
Interest Expense	50,000
Income Tax Expense	300,000

Question:

Using the given data, prepare the income statement for Apple Inc. for the year ended December 31, 2023. Calculate the Gross Profit Margin and assess the company's profitability.