The financial information for Samsung Electronics for the year ending December 31, 2023, is as follows:

• Total revenue: $8,500,000
• Cost of goods sold: $4,500,000
• Gross profit: $4,000,000
• Operating expenses: $2,000,000
• Net income: $1,800,000
• Dividends declared: $200,000
• Cash: $700,000
• Accounts receivable: $450,000
• Inventory: $350,000
• Total assets: $4,500,000
• Total liabilities: $2,200,000
• Common stock: $2,000,000
• Retained earnings: $800,000

Instructions:

1. Prepare an income statement for the year ended December 31, 2023.
2. Prepare a statement of retained earnings for the year.
3. Calculate the gross profit percentage.
4. Determine the debt-to-equity ratio.
5. Compute the current ratio.