Analyze, Forecast, and Interpret Income Statement and Balance Sheet

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

Total revenues	12,191.0
Operating expenses	6,145.0
Systems development and programming costs	636.3
Depreciation and amortization	304.4
Total cost of revenues	7,085.7
Selling, general, and administrative expenses	2,635.0
Interest expense	112.0
Total expenses	9,832.7
Other (income) expense, net	(96.0)
Earnings before income taxes	2,454.3
Provision for income taxes	712.8
Net earnings	1,741.5

Current assets
Cash and cash equivalents	1,676.0
Accounts receivable, net	2,439.3
Other current assets	519.6
Total current assets before funds held for clients	4,634.9
Funds held for clients	25,313.0
Total current assets	29,947.9
Long-term receivables, net	23.8
Capitalized contract cost, net	2,428.5
Other assets	934.4
Goodwill	2,323.0
Intangible assets, net	1,071.5
Total assets	37,386.1
Current liabilities
Accounts payable	125.5
Accrued expenses and other current liabilities	1,513.0
Accrued payroll and payroll-related expenses	721.1
Dividends payable	292.0
Short-term deferred revenues	220.7
Obligations under reverse repurchase agreements	262.0
Income taxes payable	54.8
Total current liabilities before client funds obligations	3,189.1
Client funds obligations	25,064.0
Total current liabilities	28,253.1
Long-term debt	2,002.2
Other liabilities	687.0
Deferred income taxes	659.9
Long-term deferred revenues	399.3
Total liabilities	32,001.5
Shareholders' equity
Preferred stock, $1.00 par value; Authorized, 0.3 shares; issued , none
Common stock, $0.10 par value; Authorized, 1,000.0 shares;
issued, 638.7 shares; outstanding 434.2 shares	63.9
Capital in excess of par value	1,167.9
Retained earnings	17,500.6
Treasury stock, at cost: 204.5 shares	(13,090.5)
Accumulated other comprehensive loss	(257.3)
Total stockholders' equity	5,384.6
Total liabilities and stockholders' equity	37,386.1

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Forecast ADP's 2020 income statement and balance sheet using the following relations (\$ millions). Note: Complete the entire question in Excel (template provided above). Using Excel, format each answer to two decimal places. Use Increase Decimal or Decrease Decimal to adjust decimal places. Do not round answers. Then enter the answers into the provided spaces below with two decimal places. Note: Use negative signs with answers, when appropriate. AUTOMATIC DATA PROCESSING INC. Balance Sheet $ millions June 30,2020 Current assets Cash and cash equivalents Accounts receivable, net Other current assets Total current assets before funds held for clients Funds held for clients Total current assets Long-term receivables, net Property, plant and equipment, net Capitalized contract cost, net Other assets Goodwill Intangible assets, net Total assets \begin{tabular}{ll} $ & 0 \\ & 0 \\ & 0 \\ \hline & 0 \\ & 0 \\ \hline & 0 \\ & 0 \\ & 0 \\ & 0 \\ & 0 \\ & 0 \\ \hline & 0 \\ \hline \hline \end{tabular} Current liabilities Accounts payable Accrued expenses and other current liabilities Accrued payroll and payroll-related expenses Dividends payable Short-term deferred revenues Obligations under reverse repurchase agreements Income taxes payable Total current liabilities before client funds obligations Client funds obligations Total current liabilities Long-term debt Other liabilities Deferred income taxes Long-term deferred revenues Total liabilities Shareholders' equity Preferred stock, $1.00 par value; Authorized, 0.3 shares; issued, none Common stock, $0.10 par value; Authorized, 1,000.0 shares; issued, 638.7 shares; outstanding 434.2 shares Capital in excess of par value Retained earnings Treasury stock, at cost: 204.5 shares Accumulated other comprehensive loss Total stockholders' equity Total liabilities and stockholders' equity \begin{tabular}{ll} $ & 0 \\ & 0 \\ & 0 \\ & 0 \\ & 0 \\ & 0 \\ \hline & 0 \\ & 0 \\ \hline & 0 \\ & 0 \\ & 0 \\ \hline & 0 \\ & 0 \\ \hline & 0 \\ \hline & 0 \\ \hline & 0 \\ \hline & 0 \\ \hline & 0 \\ \hline & 0 \\ \hline & 0 \\ & 0 \\ \hline \end{tabular}