Question: Scroll down the annual report until you see Consolidated Statement of Earnings for the last few years. Compute the percentage change between the last two



- Scroll down the annual report until you see Consolidated Statement of Earnings for the last few years.
- Compute the percentage change between the last two years for the following (numbers are in millions of dollars):
- Sales to customers
- Net earnings
- Earnings per share
- Generally speaking, is Johnson & Johnson growing by more or less than 10 percent per year?
JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers $ 82,584 Cost of products sold 28,427 Gross profit 54,157 Selling, marketing and administrative expenses 22,084 Research and development expense 12,159 In-process research and development (Note 5) 181 Interest income (111) Interest expense, net of portion capitalized (Note 4) 201 Other (income) expense, net 2,899 Restructuring (Note 20) 247 Earnings before provision for taxes on income 16,497 Provision for taxes on income (Note 8) 1,783 Net earnings $ 14,714 2019 82,059 27,556 54,503 22,178 11,355 890 (357) 318 2,525 266 17,328 2,209 15,119 2018 81,581 27,091 54,490 22,540 10,775 1,126 (611) 1,005 1,405 251 17,999 2,702 15,297 5.59 5.51 5.72 5.63 5.70 5.61 $ Net earnings per share (Notes 1 and 15) Basic Diluted Average shares outstanding (Notes 1 and 15) Basic Diluted 2,632.8 2,670.7 2,645.1 2,684.3 2,681.5 2,728.7 JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers $ 82,584 Cost of products sold 28,427 Gross profit 54,157 Selling, marketing and administrative expenses 22,084 Research and development expense 12,159 In-process research and development (Note 5) 181 Interest income (111) Interest expense, net of portion capitalized (Note 4) 201 Other (income) expense, net 2,899 Restructuring (Note 20) 247 Earnings before provision for taxes on income 16,497 Provision for taxes on income (Note 8) 1,783 Net earnings $ 14,714 2019 82,059 27,556 54,503 22,178 11,355 890 (357) 318 2,525 266 17,328 2,209 15,119 2018 81,581 27,091 54,490 22,540 10,775 1,126 (611) 1,005 1,405 251 17,999 2,702 15,297 JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers $ 82,584 Cost of products sold 28,427 Gross profit 54,157 Selling, marketing and administrative expenses 22,084 Research and development expense 12,159 In-process research and development (Note 5) 181 Interest income (111) Interest expense, net of portion capitalized (Note 4) 201 Other (income) expense, net 2,899 Restructuring (Note 20) 247 Earnings before provision for laxes on income 16,497 Provision for taxes on income (Note 8) 1,783 Net earnings $ 14,714 2019 82,059 27,556 54,503 22,178 11,355 890 (357) 318 2,525 266 17,328 2,209 15,119 2018 81,581 27,091 54,490 22,540 10,775 1,126 (611) 1,005 1,405 251 17,999 2,702 15,297 5.59 5.51 5.72 5.63 5.70 5.61 $ Net earnings per share (Notes 1 and 15) Basic Diluted Average shares outstanding (Notes 1 and 15) Basic Diluted 2,632.8 2,670.7 2,645.1 2,684.3 2,681.5 2,728.7
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