Forecast an Income Statement Seagate Technology reports the following income statement for fiscal 2019. SEGATE...
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Forecast an Income Statement Seagate Technology reports the following income statement for fiscal 2019. SEGATE TECHNOLOGY PLC Consolidated Statement of Income For Year Ended June 28, 2019, 5 millions Revenue $11.429 Cost of revenue 8,204 Product development 1090 Marketing and administrative 498 Amortization of intangibles 25 Restructuring and other, net (24) Total operating expenses 9,793 Income from operations 1,636 Interest income 92 Interest expense (246) Other, net 28 Other expense, net (126) Income before income taxes 1,510 (Benefit) provision for income taxes (704) Net income $2,214 Forecast Seagate's 2020 income statement assuming the following income statement relations (5 millions). Forecast Seagate's 2020 income statement assuming the following income statement relations ($ millions). Revenue growth 5% Cost of revenue 71.8% of revenue Product development 9.5% of revenue Marketing and administrative 4.4% of revenue Amortization of intangibles No change Restructuring and other, net $0 Interest income No change Interest expense No change Other, net No change Income tax rate 2194 Note: Round your answers below to the nearest whole dollar Note: Round your answers below to the nearest whole dollar. SEAGATE TECHNOLOGY PLC Forecasted Income Statement For Year Ended $ millions June 2020 Revenue 12,000 Cost of revenue 5,890 X Product development 0 X Marketing and administrative OX Amortization of intangibles Restructuring and other, net 0 Total operating expenses OX Income from operations OX Interest income 0 X Interest expense Othernet 0 X Other expense, net Income before income taxes OX (Benefit) provision for income taxes 0 x Net income $ 0 X 0X Check



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