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).
2014
Sales .........................................................................$ 74,331
Net income .................................................................16,323
Total assets ..............................................................131,119
Total shareholders’ equity ........................................69,752
REQUIRED:
Assume that company management expects sales growth of 8 percent during 2015, and during 2015 expects stable relationships between net income and sales, sales and total assets, and debt/equity. Prepare a projected income statement and balance sheet for 2015.
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...
Step by Step Answer:
2014 Historic Relationship Sales 74331 NA Net income 16323 2196 of Sales Total asse...View the full answer
