Company: Procter & Gamble Data for the year ended December 31, 2023:ItemAmountRevenue$400,000,000Cost of Goods Sold$200,000,000Operating Expenses$150,000,000Income...
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Accounting
Company: Procter & Gamble
Data for the year ended December 31, 2023:
Item | Amount |
Revenue | $400,000,000 |
Cost of Goods Sold | $200,000,000 |
Operating Expenses | $150,000,000 |
Income Tax Expense | $20,000,000 |
Net Income | $30,000,000 |
Requirements:
- Calculate Procter & Gamble's gross profit margin.
- Determine Procter & Gamble's operating profit margin.
- Analyze the impact of income tax expense on Procter & Gamble's net income.
- Discuss how Procter & Gamble's revenue recognition policy affects its financial statements.
- Evaluate Procter & Gamble's financial performance using the return on assets (ROA) ratio.
- Explain the importance of the Income Measurement Objective in Procter & Gamble’s financial management.
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