Amazon.com, Inc. is analyzing its financial performance for 2023. The transactions recorded are:

Transactions (in $ millions)	Amount
Cash Sales	700,000
Credit Sales	300,000
Cash Payments	400,000
Accounts Receivable	140,000
Inventory Purchases	250,000
Estimated Product Returns	60,000
Marketing Expenses	120,000

Requirements:

• Prepare Amazon.com, Inc.'s income statement for 2023 using the modified cash basis.
• Calculate net income considering the conservatism principle.
• Discuss the impact of estimated product returns and marketing expenses on financial statements.
• Analyze the treatment of accounts receivable and inventory purchases under the conservatism principle.
• Prepare a balance sheet as of December 31, 2023.
• Calculate and interpret the gross profit margin and operating profit margin.