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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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Question

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:

  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's revenue recognition policy affects its financial statements.
  5. Evaluate Procter & Gamble's financial performance using the return on assets (ROA) ratio.
  6. Explain the importance of the Income Measurement Objective in Procter & Gamble’s financial management.

Answer & Explanation Solved by verified expert
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