Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet

Following are the income statement and balance sheet of Seagate Technology for fiscal 2019.

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.

SEGATE TECHNOLOGY PLC
Consolidated Statement of Income
For Year Ended June 28, 2019, $ millions
Revenue	$7,896
Cost of revenue	5,668
Product development	753
Marketing and administrative	344
Amortization of intangibles	17
Restructuring and other, net	(17)
Total operating expenses	6,765
Income from operations	1,131
Interest income	64
Interest expense	(170)
Other, net	19
Other expense, net	(87)
Income before income taxes	1,044
(Benefit) provision for income taxes	(486)
Net income	$1,530

SEAGATE TECHNOLOGY PLC Consolidated Balance Sheet
Consolidated Balance Sheet
$ millions	June 28, 2019
Current assets
Cash and cash equivalents	$1,687
Accounts receivable, net	752
Inventories	737
Other current assets	140
Total current assets	3,316
Property, equipment and leasehold improvements, net	1,420
Goodwill	940
Other intangible assets, net	84
Deferred income taxes	847
Other assets, net	145
Total assets	$6,752
Current liabilities
Accounts payable	$1,079
Accrued employee compensation	128
Accrued warranty	69
Accrued expenses	420
Total current liabilities	1,696
Long-term accrued warranty	79
Long-term accrued income taxes .	3
Other noncurrent liabilities	99
Long-term debt, less current portion	3,232
Total liabilities	5,109
Shareholders equity
Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,340,697,595 and
1,354,218,154 shares issued and outstanding, respectively	0
Additional paid-in capital	4,982
Accumulated other comprehensive loss	(34)
Accumulated deficit	(3,305)
Total shareholders' equity	1,643
Total liabilities and shareholders' equity	$6,752

Forecast Seagate Technologys 2020 income statement using the following forecast assumptions, which are expressed as a percentage of revenue unless otherwise indicated. 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.

Assumptions
Revenue growth	5%	growth
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	million
Interest income		No change
Interest expense		No change
Other, net		No change
Income tax rate	21%

	SEGATE TECHNOLOGY PLC
	Consolidated Statement of Income
	$ millions	June 2020
	Revenue
	Cost of revenue
	Product development
	Marketing and administrative
	Amortization of intangibles
	Restructuring and other, net
	Total operating expenses
	Income from operations
	Interest income
	Interest expense
	Other, net
	Other expense, net
	Income before income taxes
	(Benefit) provision for income taxes
	Net income

Forecast Seagate Technologys 2020 balance sheet using the following forecast assumptions, which are expressed as a percentage of revenue unless otherwise indicated. 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.

Assumptions
Accounts receivable, net	9.5%	of revenue
Inventories	9.3%	of revenue
Other current assets	1.8%	of revenue
Deferred income taxes	10.7%	of revenue
Other assets, net	1.8%	of revenue
Accounts payable	13.7%	of revenue
Accrued employee compensation	1.6%	of revenue
Accrued warranty	0.9%	of revenue
Accrued expenses	5.3%	of revenue
Long-term accrued warranty	1.0%	of revenue
Other noncurrent liabilities	1.3%	of revenue
Goodwill		No change
Long-term accrued income taxes		No change
Long-term debt, less current portion		No change
Ordinary Shares		No change
Accumulated other comprehensive loss		No change
CAPEX	5.8%	of revenue
Depreciation expense	5.4%	of beginning Property, equipment and leasehold improvements, gross
Beginning Property, equipment and leasehold improvements, gross	$7,475	million
Stock-based compensation	$99	million, increases Capital in excess of par value by the same amount. Assume that the company routinely includes this form of compensation in operating expenses each year.
Dividend payout ratio	35.4%

	SEAGATE TECHNOLOGY PLC Consolidated Balance Sheet
	Consolidated Balance Sheet
	$ millions	June 2020
	Current assets
	Cash and cash equivalents
	Accounts receivable, net
	Inventories
	Other current assets
	Total current assets
	Property, equipment and leasehold improvements, net
	Goodwill
	Other intangible assets, net
	Deferred income taxes
	Other assets, net
	Total assets
	Current liabilities
	Accounts payable
	Accrued employee compensation
	Accrued warranty
	Accrued expenses
	Total current liabilities
	Long-term accrued warranty
	Long-term accrued income taxes .
	Other noncurrent liabilities
	Long-term debt, less current portion
	Total liabilities
	Shareholders equity
	Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,340,697,595 and
	1,354,218,154 shares issued and outstanding, respectively
	Additional paid-in capital
	Accumulated other comprehensive loss
	Accumulated deficit
	Total shareholders' equity
	Total liabilities and shareholders' equity

need help with all questions thanks