The trial balance of Johnson & Johnson as of December 31, 2023, before adjustments, is as follows:

Account	Debit ($)	Credit ($)
Cash	18 billion
Accounts Receivable	22 billion
Inventory	28 billion
Prepaid Insurance	3 billion
Equipment	55 billion
Accumulated Depreciation		15 billion
Accounts Payable		20 billion
Salaries Expense	20 billion
Rent Expense	5 billion
Sales Revenue		60 billion
Cost of Goods Sold	35 billion
Income Tax Expense	10 billion

Additional adjustments:

• Depreciation expense for the year was 15 billion.
• Accrued salaries expense at the end of the year amounted to 3 billion.
• Prepaid insurance was adjusted to reflect 2 billion used during the year.
• Record an allowance for doubtful accounts of 4 billion.

Required:

• Prepare an adjusted trial balance for Johnson & Johnson as of December 31, 2023.
• Prepare an income statement.
• Calculate the net income after taxes.
• Determine the effect of adjusting entries on financial ratios.
• Analyze the impact of doubtful accounts on the balance sheet.