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Below is a hypothetical income statement, based on the income statement projection of Starbucks, Inc. in 2023, 2022, and 2021. Item 1 Financial Statements and
Below is a hypothetical income statement, based on the income statement projection of Starbucks, Inc. in 2023, 2022, and 2021. Item 1 Financial Statements and Supplementary Data STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS (in millions, $US) Oct 1, 2021 Sep 29, Sep 30, Fiscal Year Ended 2023 2022 Revenue Cost of Goods Sold (COGS) Store operating expenses 10,493 9,472 Depreciation and amortization expenses 1,377 1,247 Interest expense 331 170 Income tax expense 871 1,262 8,486 1,011 925 1,432 Answer all the questions below. Q2a. If we were to assume that the Cost of Goods Sold (COGS) is 55%, 60%, and 65% of the revenue (sales) volume of 2023, 2022, and 2021, respectively, what would be the revenue (sales) estimate for each year? Show your calculations. Note that the unit above is in millions, $US. 2023 revenue (sales), assuming 55% of revenue is COGS: O 2022 revenue (sales), assuming 60% of revenue is COGS: 2021 revenue (sales), assuming 65% of revenue is COGS
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