Question: 10 6 points Exercise 14.15 (Static) Ratio Analysis for Feature Company (LO14-6, LO14-7) Johnson & Johnson's 2017 financial statements include the following items (all

10 6 points Exercise 14.15 (Static) Ratio Analysis for Feature Company (LO14-6,

10 6 points Exercise 14.15 (Static) Ratio Analysis for Feature Company (LO14-6, LO14-7) Johnson & Johnson's 2017 financial statements include the following items (all dollars in millions). 2017 Balance sheet Current assets eBook Current liabilities Total assets Income statement Sales $ 43,088 30,537 157,303 Gross profit Print Net earnings (income) $ 76,450 51,096 1,300 References 2016 $ 65,032 26,287 141,208 $ 71,890 50,205 16,540 a. Compute the gross profit rate. (Round your percentage answers to 1 decimal place. i.e. 0.1234 as 12.3%.) b. Compute the net income as a percentage of sales. (Round your percentage answers to 1 decimal place. i.e. 0.1234 as 12.3%.) c. Compute the current ratio. (Round your answers to 2 decimal places.) 2017 2016 Trend a. Gross profit rate % % b. Net income as a percentage of sales c. Current ratio % % to 1 to 1 Check my work

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