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Consider the following income statement and comparative balance sheet. Income Statement - Meta Platforms ( Facebook ) ( in millions ) 1 2 / 3

Consider the following income statement and comparative balance sheet.
Income Statement - Meta Platforms (Facebook)
(in millions)12/31/2021
Revenue $117,929.0
Cost of revenue 22,649.0
Research & development expense 24,655.0
Marketing & selling expense 14,043.0
General & administrative expense 9,829.0
Income from operations 46,753.0
Interest income (expense)461.0
Other income (expense)70.0
Income before provision for income taxes 47,284.0
Provision for income taxes 7,914.0
Net income $39,370.0
Balance Sheet - Meta Platforms (Facebook)
(in millions)12/31/202112/31/2020
Assets:
Cash & cash equivalents $16,601.0 $17,576.0
Short-term marketable securities 31,397.044,378.0
Accounts receivable, net 14,039.011,335.0
Prepaid expenses & other current assets 4,629.02,381.0
Total current assets 66,666.075,670.0
Long-term investments 6,775.06,234.0
Property & equipment, net 57,809.045,633.0
Operating lease right-of-use assets 12,155.09,348.0
Intangible assets, net 634.0623.0
Goodwill 19,197.019,050.0
Other assets 2,751.02,758.0
Total assets $165,987.0 $159,316.0
Liabilities:
Accounts payable $4,083.0 $1,331.0
Partners payable 1,052.01,093.0
Operating lease liabilities, current 1,127.01,023.0
Accrued expenses & other current liabilities 14,873.011,534.0
Total current liabilities 21,135.014,981.0
Operating lease liabilities, non-current 12,746.09,631.0
Long-term debt 0.00.0
Other liabilities 7,227.06,414.0
Total liabilities 41,108.031,026.0
Stockholders Equity:
Additional paid-in capital 55,811.050,018.0
Accumulated other comprehensive income (loss)(693.0)927.0
Retained earnings 69,761.077,345.0
Total stockholders equity 124,879.0128,290.0
Total liabilities and equity $165,987.0 $159,316.0
The following additional information is provided:
Revenue growth in 2022-2025: 6.0%
Terminal growth: 2.5%
Statutory tax rate (federal and state combined) for all years: 22.0%
Use the parsimonious forecasting method to forecast total revenue, NOPAT, and NOA for years 2022 through 2025 and the terminal period. Recall that the parsimonious method presumes that 2021 NOPAT and NOA (as a percentage of revenue) are used to forecast future amounts. Assume that all items on the 2021 income statement will persist. Enter your responses below. Do not round intermediate calculations.
$ millions 2022202320242025 Terminal Period
Revenue:
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NOPAT:
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NOA:
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