Procter & Gamble
 Data for the year ended December 31, 2023:

Item	Amount
Revenue	$1,000,000,000
Cost of Goods Sold	$600,000,000
Operating Expenses	$300,000,000
Income Tax Expense	$50,000,000
Net Income	$50,000,000

Requirements:

1. Calculate Procter & Gamble's gross profit margin.
2. Determine Procter & Gamble's operating profit margin.
3. Analyze the impact of income tax expense on Procter & Gamble's net income.
4. Discuss how Procter & Gamble recognizes revenue from consumer goods sales.
5. Evaluate Procter & Gamble's profitability using the return on equity (ROE) ratio.
6. Explain the significance of the Income Measurement Objective in Procter & Gamble’s financial planning and strategic decisions.