VWX Company, a software development firm, reports the following financial figures for the year ended December 31, 2023:

Sales Revenue: $4,000,000

Cost of Goods Sold: $1,500,000

Research and Development Expenses: $1,000,000

General and Administrative Expenses: $700,000

Interest Expense: $50,000

Income Tax Expense: $150,000

Cash and Cash Equivalents: $300,000

Total Current Assets: $1,500,000

Total Current Liabilities: $900,000

Requirements:

Prepare an income statement for VWX Company for the year ended December 31, 2023.

Calculate the operating profit.

Determine the net income.

Compute the current ratio.

Calculate the return on assets (ROA) assuming total assets of $2,500,000.