Analyze, Forecast, and Interpret Income Statement and Balance Sheet

Following are the income statement and balance sheet of ADP Inc.

Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places.

Forecast ADP's $2020$ income statement and balance sheet using the following relations $($$ millions$).$

Note: Use negative signs with answers, when appropriate.

AUTOMATIC DATA PROCESSING INC.

Statement of Consolidated Earnings

For Year Ended June $30,2020,$ $ millions

Total revenues Answer $1$

$0$

Operating expenses Answer $2$

$0$

Systems development and programming costs Answer $3$

$0$

Depreciation and amortization Answer $4$

$0$

Total cost of revenues Answer $5$

$0$

Selling, general, and administrative expenses Answer $6$

$0$

Interest expense Answer $7$

$0$

Total expenses Answer $8$

$0$

Other $($income$)$ expense, net Answer $9$

$0$

Earnings before income taxes Answer $10$

$0$

Provision for income taxes Answer $11$

$0$

Net earnings Answer $12$

$0$

AUTOMATIC DATA PROCESSING INC.

Balance Sheet

$ millions June $30,2020$

Current assets

Cash and cash equivalents Answer $13$

$0$

Accounts receivable, net Answer $14$

$0$

Other current assets Answer $15$

$0$

Total current assets before funds held for clients Answer $16$

$0$

Funds held for clients Answer $17$

$0$

Total current assets Answer $18$

$0$

Long$-$term receivables, net Answer $19$

$0$

Property, plant and equipment, net Answer $20$

$0$

Capitalized contract cost, net Answer $21$

$0$

Other assets Answer $22$

$0$

Goodwill Answer $23$

$0$

Intangible assets, net Answer $24$

$0$

Total assets Answer $25$

$0$

Current liabilities

Accounts payable Answer $26$

$0$

Accrued expenses and other current liabilities Answer $27$

$0$

Accrued payroll and payroll$-$related expenses Answer $28$

$0$

Dividends payable Answer $29$

$0$

Short$-$term deferred revenues Answer $30$

$0$

Obligations under reverse repurchase agreements Answer $31$

$0$

Income taxes payable Answer $32$

$0$

Total current liabilities before client funds obligations Answer $33$

$0$

Client funds obligations Answer $34$

$0$

Total current liabilities Answer $35$

$0$

Long$-$term debt Answer $36$

$0$

Other liabilities Answer $37$

$0$

Deferred income taxes Answer $38$

$0$

Long$-$term deferred revenues Answer $39$

$0$

Total liabilities Answer $40$

$0$

Shareholders' equity

Preferred stock, $$1\mathrm{.}00$ par value; Authorized, $0\mathrm{.}3$ shares; issued $,$ none Answer $41$

$0$

Common stock, $$0\mathrm{.}10$ par value; Authorized, $1,000\mathrm{.}0$ shares;

issued, $638\mathrm{.}7$ shares; outstanding $434\mathrm{.}2$ shares Answer $42$

$0$

Capital in excess of par value Answer $43$

$0$

Retained earnings Answer $44$

$0$

Treasury stock, at cost: $204\mathrm{.}5$ shares Answer $45$

$0$

Accumulated other comprehensive loss Answer $46$

$0$

Total stockholders' equity Answer $47$

$0$

Total liabilities and stockholders' equity Answer $48$

$0$