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Analyze, Forecast, and Interpret Income Statement and Balance Sheet Following are the income statement and balance sheet of ADP Inc. begin{tabular}{|l|r|} hline Stock buy backs
Analyze, Forecast, and Interpret Income Statement and Balance Sheet Following are the income statement and balance sheet of ADP Inc. \begin{tabular}{|l|r|} \hline Stock buy backs & 450 \\ \hline Net cash from financing activities & 0 \\ \hline Net change in cash & 0 \\ \hline Beginning cash & 1,169.5 \\ \hline Ending cash & 0 \\ \hline \end{tabular} Assume total revenues grow by 13% in 2020 . All other percentages (other than sales growth and provision for income taxes) are based on historic percent of total revenues. - CAPEX for 2020 will be 1.1% of total revenue, and depreciation will be $110.6 million. - Goodwill, long-term debt, preferred stock, common stock, and Accumulated other comprehensive loss will not change for the year. - The company will acquire intangibles equal to 2.9% of total revenues and will record amortization expense of \$165.7 million. - Income taxes will be 25% of pretax income and income taxes payable will be 7.7% of 2020 tax expense. expenses each year. - The company will continue its stock repurchases. DP will repurchase $450 million of treasury stock. - Dividends will be $833.60 in 2020 , and dividends payable will be 26.3% of dividends. Prepare a forecast of FY2020 statement of cash flows. Note: Round your answers to one decimal place (for example, enter 14.6 for 14.55555)
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