Company: Berkshire Hathaway Inc. Data for the year ended December 31, 2023:ItemAmountTotal Revenue$700,000,000Cost of Goods Sold$400,000,000Operating Expenses$250,000,000Income...
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Accounting
Company: Berkshire Hathaway Inc.
Data for the year ended December 31, 2023:
Item | Amount |
Total Revenue | $700,000,000 |
Cost of Goods Sold | $400,000,000 |
Operating Expenses | $250,000,000 |
Income Tax Expense | $50,000,000 |
Net Income | $50,000,000 |
Requirements:
- Calculate Berkshire Hathaway's gross profit margin.
- Determine Berkshire Hathaway's operating profit margin.
- Analyze the impact of income tax expense on Berkshire Hathaway's net income.
- Discuss how Berkshire Hathaway recognizes revenue across its diversified portfolio.
- Evaluate Berkshire Hathaway's profitability using the return on equity (ROE) ratio.
- Assess the significance of the Income Measurement Objective in Berkshire Hathaway’s financial reporting and investor relations.
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