JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers 82,584 Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development (Note 5) 28,427 54,157 22,084 12,159 181 Interest incomc (111) Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 20) Earnings before provision for taxes on income Provision for taxes on income (Note 8) Net earnings 201 2,899 247 16,497 1,783 14,714 Net earnings per share (Notes I and 15) Basic 5.59 Diluted 5.51 Average shares outstanding (Notes 1 and 15) Basic 2,632.8 Diluted 2,670.7

JOHNSON & JOHNSON AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF EARNINGS (Dollars and Shares in Millions Except Per Share Amounts) (Note 1) 2020 Sales to customers 82,584 Cost of products sold Gross profit Selling, marketing and administrative expenses Research and development expense In-process research and development (Note 5) 28,427 54,157 22,084 12,159 181 Interest incomc (111) Interest expense, net of portion capitalized (Note 4) Other (income) expense, net Restructuring (Note 20) Earnings before provision for taxes on income Provision for taxes on income (Note 8) Net earnings 201 2,899 247 16,497 1,783 14,714 Net earnings per share (Notes I and 15) Basic 5.59 Diluted 5.51 Average shares outstanding (Notes 1 and 15) Basic 2,632.8 Diluted 2,670.7

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 1PB: Identify whether each of the following accounts would be considered a permanent account (yes/no) and...

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