Tesla, Inc.
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$700,000,000
Cost of Goods Sold	$450,000,000
Operating Expenses	$200,000,000
Income Tax Expense	$20,000,000
Net Income	$30,000,000

Requirements:

1. Calculate Tesla's gross profit margin.
2. Determine Tesla's operating profit margin.
3. Analyze the impact of income tax expense on Tesla's net income.
4. Discuss how Tesla's revenue recognition policy affects its financial statements.
5. Evaluate Tesla's profitability using the return on equity (ROE) ratio.
6. Explain the significance of the Income Measurement Objective in Tesla’s financial planning and investor communication.