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

Item	Amount
Total Revenue	$600,000,000
Cost of Goods Sold	$350,000,000
Operating Expenses	$200,000,000
Income Tax Expense	$25,000,000
Net Income	$25,000,000

Requirements:

1. Calculate Starbucks' gross profit margin.
2. Determine Starbucks' operating profit margin.
3. Analyze the impact of income tax expense on Starbucks' net income.
4. Discuss how Starbucks recognizes revenue from coffee sales.
5. Evaluate Starbucks' profitability using the return on assets (ROA) ratio.
6. Explain the role of the Income Measurement Objective in Starbucks’ financial management and reporting.