Selected financial information appearing in the SEC Form 10-K for Johnson & Johnson is reported below (dollars
Question:
Selected financial information appearing in the SEC Form 10-K for Johnson & Johnson is reported below (dollars in millions).
________________________________2008
Sales $63,747
Net income 12,949
Total assets 84,912
Total shareholders’ equity 42,511
REQUIRED:
Assume that company management expects sales growth of 8 percent during 2009, and during 2009 expects stable relationships between net income and sales, sales and total assets, and debt/equity. Prepare a projected income statement and balance sheet for 2009.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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2008 Historic Relationship Sales 63747 NA Net income ...View the full answer
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