Ford Motor Company Data for the year ended December 31, 2023:ItemAmountTotal Revenue$450,000,000Cost of Goods Sold$300,000,000Operating Expenses$120,000,000Income...
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Accounting
Ford Motor Company Data for the year ended December 31, 2023:
Item
Amount
Total Revenue
$450,000,000
Cost of Goods Sold
$300,000,000
Operating Expenses
$120,000,000
Income Tax Expense
$20,000,000
Net Income
$10,000,000
Requirements:
Calculate Ford's gross profit margin.
Determine Ford's operating profit margin.
Analyze the impact of income tax expense on Ford's net income.
Discuss how Ford recognizes revenue from vehicle sales.
Evaluate Ford's profitability using the return on assets (ROA) ratio.
Explain the significance of the Income Measurement Objective in Ford’s cost management and pricing strategy.
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