Following is the income statement for Medtronic PLC for the year ended April 29, 2 Consolidated Statements of Income Apr. 29, 2016 Net sales $29,944 Costs and expenses Cost of products sold 9,283 Research and development expense 2,224 Selling, general, and administrative expense 9,469 Special charges (gains), net 704 Restructuring charges, net 290 Certain litigation charges, net 26 Acquisition-related items 283 Amortization of intangible assets 1,931 Other expense, net 107 Operating profit 6,261 Interest expense, net 955 Income from operations before income taxes 5,306 Provision for income taxes 1,008 Net income $4,298 Net sales increase Cost of products sold Research and development expense Selling general and administrative expense Special charges (gains)net Certain litigation charges.net Restructuring charges net Acquisition:related items Amortization of intangible assets Other expense, net and interest expense, net Provision for income taxes 20% 31.7of net sales 7.7% of net sales 32.8% of net sales 50 50 25of 2016 expense 1.0% of net sales No change No change 20% of pre-tax income Medtronic Inc. Forecasted Consolidated Statement of Income in Millions EST. 2017 Net sales 35,933 Costs and expenses Cost of products sold 11,391 Research and development expense 2,767 Selling general, and administrative expense 11.786 Restructuring charges, net 218 Acquisition-related items 359 Amortization of intangible assets 1,931 Other expense, net 1,062 x OX Operating profit Interest expense, net OX OX Income from operations before income taxes Provision for income taxes 1,284 OX Net Income