Company: Johnson & Johnson Data for the year ended December 31, 2023:ItemAmountCash and Cash Equivalents$55,000,000Accounts Payable$25,000,000Inventory$35,000,000Net Sales$350,000,000Operating...
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Accounting
Company: Johnson & Johnson
Data for the year ended December 31, 2023:
Item | Amount |
Cash and Cash Equivalents | $55,000,000 |
Accounts Payable | $25,000,000 |
Inventory | $35,000,000 |
Net Sales | $350,000,000 |
Operating Expenses | $200,000,000 |
Requirements:
- Calculate Johnson & Johnson's current ratio.
- Determine Johnson & Johnson's inventory turnover ratio.
- Analyze the impact of accounts payable on Johnson & Johnson's working capital.
- Discuss how Johnson & Johnson recognizes revenue from pharmaceutical sales.
- Evaluate Johnson & Johnson's liquidity using the quick ratio.
- Assess how the Income Measurement Objective is crucial in Johnson & Johnson’s financial transparency and investor confidence.
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