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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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Question

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:

  1. Calculate Berkshire Hathaway's gross profit margin.
  2. Determine Berkshire Hathaway's operating profit margin.
  3. Analyze the impact of income tax expense on Berkshire Hathaway's net income.
  4. Discuss how Berkshire Hathaway recognizes revenue across its diversified portfolio.
  5. Evaluate Berkshire Hathaway's profitability using the return on equity (ROE) ratio.
  6. Assess the significance of the Income Measurement Objective in Berkshire Hathaway’s financial reporting and investor relations.

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