Walt Disney Company
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,800,000,000
Cost of Goods Sold	$1,100,000,000
Operating Expenses	$600,000,000
Income Tax Expense	$70,000,000
Net Income	$30,000,000

Requirements:

1. Calculate Disney's gross profit margin.
2. Determine Disney's operating profit margin.
3. Discuss the effect of operating expenses on Disney's profitability.
4. Evaluate how Disney recognizes revenue from theme park operations.
5. Explain the significance of the Income Measurement Objective in Disney's financial planning.
6. Analyze the impact of Disney's financial performance on its brand value