Look up Johnson & Johnson on Yahoo! Finance. a. Recalculate book- and market-value balance sheets using the most recent available financial information. Use the same format as for Table 18.4. b. Track...

Look up Johnson & Johnson on Yahoo! Finance. a. Recalculate book- and market-value balance sheets using the most recent available financial information. Use the same format as for Table 18.4. b. Track Johnson & Johnson’s long-term debt and debt ratio over the last five years (you will need to go to the company’s website to do this). How have they changed? Does it appear that the company has a stable target debt ratio? Do you see any evidence of pecking-order financing? c. How much has the company spent to repurchase its own shares? Would the trade-off theory predict share repurchases for a conservatively financed company like Johnson & Johnson?