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

Item	Amount
Revenue	$1,100,000,000
Cost of Goods Sold	$700,000,000
Operating Expenses	$350,000,000
Income Tax Expense	$30,000,000
Net Income	$20,000,000

Requirements:

1. Calculate Walmart's gross profit margin.
2. Determine Walmart's operating profit margin.
3. Analyze the impact of income tax expense on Walmart's net income.
4. Discuss how Walmart recognizes revenue from retail sales.
5. Evaluate Walmart's profitability using the return on assets (ROA) ratio.
6. Explain the significance of the Income Measurement Objective in Walmart’s financial planning and operational efficiency.