Question: Please use the following information for the next 8 questions. Below is information from reformulated financial statements for Johnson and Johnson Corporation (in millions): Operating

Please use the following information for the next 8 questions. Below is information from reformulated financial statements for Johnson and Johnson Corporation (in millions): Operating assets Short-term debt securities Operating liabilities Bonds payable Boook value 2019 $4,750 475 (900) (1,585) 2,740 2018 53,550 1,000 (795) 12,155) 1.600 Sales Operating expenses Interest revenue Interest expense Tax expense (tax rate - 30%) Earnings (net) 3,100 (2,165) 327 (413) (255) $594 Question 17 (4 points) Calculate the net dividends, net of capital contributions for 2019. There are no dirty surplus income items in the equity statement. $1.734 million $872 million O-$396 million 0-5546 million Question 18 (4 points) Calculate ROCE (return on common equity) for 2019; use average book value in the denominator 24.68% 27.37% 21.10% 30.25%

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