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  3. company: netflix, inc. data for the year ended d

Company: Netflix, Inc. Data for the year ended December 31, 2023:ItemAmountNet Sales$300,000,000Cost of Goods Sold$150,000,000Operating Expenses$100,000,000Income Tax...

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Question

Accounting

Company: Netflix, Inc.
 Data for the year ended December 31, 2023:

Item

Amount

Net Sales

$300,000,000

Cost of Goods Sold

$150,000,000

Operating Expenses

$100,000,000

Income Tax Expense

$20,000,000

Net Income

$30,000,000

Requirements:

  1. Calculate Netflix's gross profit margin.
  2. Determine Netflix's operating profit margin.
  3. Analyze the impact of income tax expense on Netflix's net income.
  4. Discuss how Netflix's revenue recognition policy affects its financial statements.
  5. Evaluate Netflix's profitability using the return on equity (ROE) ratio.
  6. Assess the significance of the Income Measurement Objective in Netflix’s financial performance and reporting.

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