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Johnson & Johnson Data for the year ended December 31, 2023: Item Amount Revenue $900,000,000 Cost of Goods Sold $450,000,000 Operating Expenses $300,000,000 Income

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

Item

Amount

Revenue

$900,000,000

Cost of Goods Sold

$450,000,000

Operating Expenses

$300,000,000

Income Tax Expense

$100,000,000

Net Income

$50,000,000

Requirements:

  1. Calculate Johnson & Johnson's gross profit margin.
  2. Determine Johnson & Johnson's operating profit margin.
  3. Analyze the impact of income tax expense on Johnson & Johnson's net income.
  4. Discuss how Johnson & Johnson recognizes revenue from medical devices sales.
  5. Evaluate Johnson & Johnson's profitability using the return on equity (ROE) ratio.
  6. Explain the significance of the Income Measurement Objective in Johnson & Johnson’s financial management and strategic planning.

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