Johnson & Johnson Comparative Financial Statements

Income Statement for Years Ended December 31, 2021, 2022, 2023

• Sales: $94,345, $97,243, $100,329
• Cost of Goods Sold: $30,092, $31,487, $32,971
• Gross Profit: $64,253, $65,756, $67,358
• Selling, General, Administrative Expenses: $30,478, $31,765, $32,892
• Operating Income: $33,775, $33,991, $34,466
• Interest Expense: $1,789, $1,896, $1,975
• Income Before Tax: $31,986, $32,095, $32,491
• Income Tax Expense: $6,885, $7,038, $7,140
• Net Income: $25,101, $25,057, $25,351

Balance Sheet as of December 31, 2021, 2022, 2023

• Assets
  • Current Assets: $47,261, $49,537, $51,924
  • Property, Plant, Equipment, Net: $23,841, $24,756, $25,674
  • Intangible Assets: $42,728, $44,298, $45,973
  • Total Assets: $113,830, $118,591, $123,571
• Liabilities and Equity
  • Current Liabilities: $33,847, $35,672, $37,294
  • Long-Term Debt: $26,972, $28,487, $29,791
  • Shareholders' Equity: $52,643, $54,432, $56,486
  • Total Liabilities and Equity: $113,830, $118,591, $123,571

Requirements

1. Calculate the gross profit margin for each year.
2. Determine the operating income as a percentage of sales for each year.
3. Compute the debt to equity ratio for each year.
4. Assess the return on assets for each year.