O Cambridge Busines PModule 11 I Financial Statement ForecastingLO2 M11-12. Forecast an Income StatementSATEOLOGYSTX)SEAGATE TECHNOLOGY PLCConsolidated Statement of IncomeFor Year Ended June 28, 2019, $ millionsBC$10,390Revenue.7,458Cost of revenue991Product developmentMarketing and administrativeAmortization of intangibles.Restructuring and other, net.45323(22)Total operating expenses.8,903Income from operations.1,487Interest income84Interest expenseOther, net(224)25Other expense, net.(115)Income before incorne taxes(Benefit) provision for income taxes1,372(640)Net income..$ 2,012Forecast Seagate's 2020 income statement assuming the following income statement relations (STRevenue growth.Cost of revenueProduct developmentMarketing and administrativeAmortization of intangibles.Restructuring and other, net,Interest income...Interest expense.Other, netIncome tax rate.5%71.8% of revenue9.5% of revenue4.4% of revenueNo change$0No changeNo changoNo change21%LO2 MI1-13. Forecast an Income StatementFollowing is the income statement for Medtronic PLCConsolidated Statement of Income (S millions)For Fiscal Year EndedNet sales.LOC 2019

Income statement shows the net income / loss incurred by the company in a particular financial year.…

O Cambridge Businea ha O Cambridge Busilnes Module 11 I Finanoial Statement Forecasting LO2 MII-12. Forecast an Income Statement TE LOGY TX) SEAGATE TECHNOLOGY PLC Consolldated Statement of Income For Year Ended June 28, 2019, $ millions $10,300 Revenue. 7,458 991 Cost of revenue Product development. Marketing and administrative. Amortization of intangibles.. Restructuring and other, net. Total operating expenses... Income from operations. .........1 453 23 .... (22) 8,903 1,487 84 (224) 25 Interost income .... Interest expense. Other, net Other expense, net (115) Income before incorne taxes 1,372 (640) $ 2,012 (Benefit) provision for income taxes. .... Net income. Forecast Seagate's 2020 income statement assuming the following income statement relations ( Revenue growth.. Cost of revenue Product development Marketing and administrative. Amortization of intangibles Restructuring and other, net.. Interest income. Interest expense. Other, net... Income tax rate. 5% 71.8% of revenue 9.5% of revenue 4.4% of revenue No change ..... ..$0 ...No change No chango No chango 21% 02 MI1-13, Forecast an Income Statement

O Cambridge Businea ha O Cambridge Busilnes Module 11 I Finanoial Statement Forecasting LO2 MII-12. Forecast an Income Statement TE LOGY TX) SEAGATE TECHNOLOGY PLC Consolldated Statement of Income For Year Ended June 28, 2019, $ millions $10,300 Revenue. 7,458 991 Cost of revenue Product development. Marketing and administrative. Amortization of intangibles.. Restructuring and other, net. Total operating expenses... Income from operations. .........1 453 23 .... (22) 8,903 1,487 84 (224) 25 Interost income .... Interest expense. Other, net Other expense, net (115) Income before incorne taxes 1,372 (640) $ 2,012 (Benefit) provision for income taxes. .... Net income. Forecast Seagate's 2020 income statement assuming the following income statement relations ( Revenue growth.. Cost of revenue Product development Marketing and administrative. Amortization of intangibles Restructuring and other, net.. Interest income. Interest expense. Other, net... Income tax rate. 5% 71.8% of revenue 9.5% of revenue 4.4% of revenue No change ..... ..$0 ...No change No chango No chango 21% 02 MI1-13, Forecast an Income Statement

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.23E: Unusual income statement items Assume that the amount of each of the following items is material to...

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