Johnson & Johnsons 2017 financial statements include the following items (all dollars in millions). Compute the following
Question:
Johnson & Johnson’s 2017 financial statements include the following items (all dollars in millions).
Compute the following ratios and comment on the trend you can observe from the limited two years of data you have available.
a. Gross profit rate.
b. Net income as a percentage of sales.
c. Current ratio.
Transcribed Image Text:
Balance sheet ... Current assets... Current liabilities. Total assets.... Income statement.. Sales ...... Gross profit..... Net earnings (income) 2017 2016 $43,088 $65,032 30,537 26,287 157,303 141,208 $76,450 $71,890 51,096 50,205 1,300 16,540
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Gross profit rate 2017 51096 76450 668 2016 50205 71890 ...View the full answer
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Related Book For
Financial And Managerial Accounting The Basis For Business Decisions
ISBN: 9781260247930
19th Edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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