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Presented below are condensed financial statements adapted from those of two actual companies competing in the pharmaceutical industry-Johnson and Johnson and Pfizer, Incorporated ($ in
Presented below are condensed financial statements adapted from those of two actual companies competing in the pharmaceutical industry-Johnson and Johnson and Pfizer, Incorporated (\$ in millions, except per share amounts). Evaluate and compare the two companies by responding to the following questions. Note: Because two-year comparative statements are not provided, you should use year-end balances in place of average balances as appropriate. Note: Because two-year comparative statements are not provided, you should use year-end balances in place of average balances as appropriate. Required: 1. For both companies, compute the ratios below. Note: Consider 365 days a year. Do not round intermediate calculations. Round "Asset Turnover" answers to 3 decimal places, average days to whole numbers, and other final answers to 2 decimal places
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