1. Based on the information I obtained with the financial statements and 10k what would I see...
Fantastic news! We've Found the answer you've been seeking!
Question:
1. Based on the information I obtained with the financial statements and 10k what would I see as the biggest risk factor in a subsequent audit of this company?
2. What are 3 areas of audit risk that I would address in my audit?
3. What are the most surprising results I discovered about Johnson and Johnson Company?
Transcribed Image Text:
Consolidated Statements of Earnings (USD $) In Millions, except Per Share data, unless otherwise specified Consolidated Statements of Earnings [Abstract] Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Net Income Restructuring (Note 22) Earnings before provision for taxes on income Cash dividends per share Basic average shares outstanding (Notes 1 and 15) Diluted average shares outstanding (Notes 1 and 15) Jan. 01, 2012 % Sales 2012 Jan. 02, 2011 % Sales 2011 Jan. 03, 2010 % Sales 2010 $65,030 20,360 44,670 20,969 7,548 16,153 -91 571 15,491 2,743 18,234 569 12,361 $2.25 12 Months Ended 2,736 2,775.30 100% 31% 69% 32% 12% 25% 0% 1% 24% 4% 28% 1% 19% 0% 4% 4% $61,587 18,792 42,795 19,424 6,844 16,527 -107 455 15,965 -768 15,197 16,947 $2.11 2,751.40 2,788.80 100% 31% 69% 32% 11% 27% 0% 1% 26% -1% 25% 0% 28% 0% $61,897 18,447 43,450 19,801 6,986 16,663 -90 451 16,122 -526 15,596 1,073 15,755 $1.93 4% 2,759.50 5% 2,789.10 62,838 100% 30% 19,200 70% 43,638 32% 20,065 11% 7,126 27% 16,448 0% (96) 492 15,859 483 16,342 821 15,021 2 1% 26% -1% 25% 2% 25% 0% 3 Period Avg 4% 5% 2,749 2,784 Variation 2012 with Avg -3% -6% -2% -5% -6% 2% 5% -16% 2% -468% -12% 31% 18% -7% 0% 0% % increase in 2012 over 2011 5.6% 8.3% 4.4% 8.0% 10.3% -2.3% -15.0% 25.5% -3.0% -457.2% 20.0% #DIV/0! -27.1% 6.6% -0.6% -0.5% Consolidated Statements of Earnings (USD $) In Millions, except Per Share data, unless otherwise specified Consolidated Statements of Earnings [Abstract] Sales to customers Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense Interest income Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Net Income Restructuring (Note 22) Earnings before provision for taxes on income Cash dividends per share Basic average shares outstanding (Notes 1 and 15) Diluted average shares outstanding (Notes 1 and 15) Jan. 01, 2012 % Sales 2012 Jan. 02, 2011 % Sales 2011 Jan. 03, 2010 % Sales 2010 $65,030 20,360 44,670 20,969 7,548 16,153 -91 571 15,491 2,743 18,234 569 12,361 $2.25 12 Months Ended 2,736 2,775.30 100% 31% 69% 32% 12% 25% 0% 1% 24% 4% 28% 1% 19% 0% 4% 4% $61,587 18,792 42,795 19,424 6,844 16,527 -107 455 15,965 -768 15,197 16,947 $2.11 2,751.40 2,788.80 100% 31% 69% 32% 11% 27% 0% 1% 26% -1% 25% 0% 28% 0% $61,897 18,447 43,450 19,801 6,986 16,663 -90 451 16,122 -526 15,596 1,073 15,755 $1.93 4% 2,759.50 5% 2,789.10 62,838 100% 30% 19,200 70% 43,638 32% 20,065 11% 7,126 27% 16,448 0% (96) 492 15,859 483 16,342 821 15,021 2 1% 26% -1% 25% 2% 25% 0% 3 Period Avg 4% 5% 2,749 2,784 Variation 2012 with Avg -3% -6% -2% -5% -6% 2% 5% -16% 2% -468% -12% 31% 18% -7% 0% 0% % increase in 2012 over 2011 5.6% 8.3% 4.4% 8.0% 10.3% -2.3% -15.0% 25.5% -3.0% -457.2% 20.0% #DIV/0! -27.1% 6.6% -0.6% -0.5%
Expert Answer:
Answer rating: 100% (QA)
In Millions except Per Share data unless otherwise specified Jan 01 2012 Sales 2012 Jan 02 2011 Sale... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
Based on the information in DDB Table 7B, identify which ideal self-concept characteristics are most versus least associated with following. Explain. a) Enjoy shopping for items influenced by other...
-
Based on the information set out in problem PA-46 below, prepare the cash flows from operating activities section of the statement of cash flows using the direct method. Data from PA-46 Tymen...
-
Based on the information provided, determine Vogls net exposure to each foreign currency in dollars.
-
Mexico discovers huge reserves of oil and starts exporting oil to the United States. Describe how this would affect the following. a. The nominal pesoU.S. dollar exchange rate. b. Mexican exports to...
-
Let E and F be the events that a family of n children has children of both sexes and has at most one boy, respectively. Are E and F independent if a) n = 2? b) n = 4? c) n = 5?
-
Satwinder deposited $145 at the end of each month for 15 years at 7.5% compounded monthly. After her last deposit she converted the balance into an ordinary annuity paying $1200 every 3 months for 12...
-
Eager Beaver, Inc., started 2011 with total assets of \($24,000\) and total liabilities of \($11,000\). At the end of 2011, the businesss total assets stood at \($34,000\), and its total liabilities...
-
The following information for Lesky Corporation covers the year ended December 31, 2010: Required Change this statement to a multiple-step format, as illustrated in this chapter. LESKY CORPORATION...
-
Santana Rey, owner of Business Solutions, decides to prepare a statement of cash flows for her business using the following financial data. BUSINESS SOLUTIONS Income Statement For Three Months Ended...
-
Match the marketing data to the marketing mix component (product, price, place, or promotion) that it would be most helpful for analyzing. Marketing Data Competitor price Order fulfillment time...
-
Gerald owns a shop in Kuala Lumpur. The shop sells various types of internet mobile phones. Last week, new stocks of internet mobile phones arrived from the United States (US) and an East Asia...
-
Show me the full equation and explain why there is HCl. Martinez Company's ending inventory includes the following items: Units Cost per Unit NRV per Unit Product Helmets 39 $61 $57 32 85 53 57...
-
You are considering an investment in Justus Corporation's stock, which is expected to pay a dividend of $ 2 . 5 0 a share at the end of the year ( D 1 = $ 2 . 5 0 ) and has a beta of 0 . 9 . The risk...
-
Moomoo company has recently expanded Into the Tampa Bay market to sell plant-based vegan Ice cream cones. The estimated market for plant-based vegan Ice cream cones in this market is 200,000 cones...
-
Discuss the four main ways in which marketers can find relevant information from various sources which is then used in developing marketing plans. (b)Both the business world and consumers are...
-
On December 31, Rodriguez Company has the following list of account balances. Accounts Payable $ 28,900 Equipment $ 31,100 Accounts Receivable 57,700 Service Revenue 61,800 Accumulated Depreciation,...
-
Inflation hits hard for international students in B.C. By Nono Shen The Canadian Press October 2022 (copywritten material) Find the 10 attributions Laughter lights up the gathering twilight at...
-
In Problems, solve each system of equations. x + 2y + 3z = 5 y + 11z = 21 5y + 9z = 13
-
write a function to calculate average_of_max_scores which takes 2D list where each row has 2 entries: a student username and a score. Allowed to make multiple submissions, so there can be multiple...
-
a. What are some of the major objectives of the IMF? b. How is the IMF involved in international trade?
-
Fairfield Corp., a U.S. firm, recently established a subsidiary in a less developed country that consistently experiences an annual inflation rate of 80 percent or more. The country does not have an...
-
Orlando Co. has its U.S. business funded with dollars with a capital structure of 60 percent debt and 40 percent equity. It has its Thailand business funded with Thai baht with a capital structure of...
-
Describe the relationship between the main processor and coprocessor in a system with which you are familiar or one that you discover through Web research.
-
The instruction set of a certain processor does not have the JLE, JLT, JGE (jump less equal, less than, and greater or equal), and JGT instructions. Assume the process does not have all other...
-
Discuss the possibility of an n-address machine, where n > 3.
Study smarter with the SolutionInn App