Company: Johnson & Johnson
 Data for the year ended December 31, 2023:

Item	Amount
Cash and Cash Equivalents	$55,000,000
Accounts Payable	$25,000,000
Inventory	$35,000,000
Net Sales	$350,000,000
Operating Expenses	$200,000,000

Requirements:

1. Calculate Johnson & Johnson's current ratio.
2. Determine Johnson & Johnson's inventory turnover ratio.
3. Analyze the impact of accounts payable on Johnson & Johnson's working capital.
4. Discuss how Johnson & Johnson recognizes revenue from pharmaceutical sales.
5. Evaluate Johnson & Johnson's liquidity using the quick ratio.
6. Assess how the Income Measurement Objective is crucial in Johnson & Johnson’s financial transparency and investor confidence.