Johnson & Johnson has the following financial information for the year ended December 31, 2023:

• Total revenue: $80,000,000
• Total expenses: $60,000,000
• Total assets: $100,000,000
• Total liabilities: $60,000,000
• Common stock: $20,000,000
• Retained earnings: $20,000,000

Prepare the balance sheet and the income statement for Johnson & Johnson as of December 31, 2023.