• Prepare a detailed cash flow statement for Johnson & Johnson for the year ended December 31, 2023.
• Use the following data:
  • Net Income: $120,000
  • Adjustments for Non-Cash Items:
    • Depreciation Expense: $20,000
    • Amortization Expense: $10,000
  • Changes in Working Capital:
    • Increase in Accounts Receivable: $5,000
    • Increase in Inventory: $8,000
    • Increase in Accounts Payable: $4,000
  • Investing Activities:
    • Purchase of Equipment: $40,000
  • Financing Activities:
    • Issuance of Common Stock: $50,000
    • Payment of Dividends: $15,000

Question:

Using the given data, prepare the detailed cash flow statement for Johnson & Johnson for the year ended December 31, 2023. Classify the cash flows into operating, investing, and financing activities.