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