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Johnson & Johnson Income Statement for 2022: Item Amount Sales $6,000,000 Cost of Goods Sold $3,800,000 Selling and Admin Expenses $1,500,000 (Including Depreciation: $200,000) Interest

Johnson & Johnson Income Statement for 2022:

Item

Amount

Sales

$6,000,000

Cost of Goods Sold

$3,800,000

Selling and Admin Expenses

$1,500,000 (Including Depreciation: $200,000)

Interest Expense

$55,000

Gain on Sale of Equipment

$45,000

Income Tax Expense

$150,000

Balance Sheet Data:

Item

12/31/2022

12/31/2021

Cash

$750,000

$500,000

Accounts Receivable

$320,000

$270,000

Inventory

$600,000

$540,000

Accounts Payable

$420,000

$380,000

Additional Information:

Equipment sold for $180,000 (original cost $250,000, carrying value $160,000).

New equipment purchased for $100,000.

Dividends declared and paid: $200,000.

Treasury shares purchased: 800 shares for $80,000.

Requirements:

Compute cash flows from operating activities.

Compute cash flows from investing activities.

Compute cash flows from financing activities.

Compute ending cash balance.

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