Consolidated Statements of Income Apr.29, 2016 Apr. 24, 2015 Apr. 25, 2014 Net sales 27.945 $20,261 $17,005 Costs and expenses Cost of products sold 8,663 2,224 9,469 70 290 26 283 1,931 107 4,882 955 6,309 1,640 6,904 (38) 237 42 550 733 118 4,333 1,477 5,847 40 78 Research and development expense Selling, general, and administrative expense Special charges (gains), net Restructuring charges, net Certain litigation charges, net Acquisition-related items Amortization of intangible assets Other expense, net Operating profit Interest expense, net 349 181 3,813 108 3,705 640 $3,065 3,766 280 Income from operations before income taxes 3,486 3,927 746 $3,181 Provision for income taxes 811 $2,675 Net income Use the following assumptions to prepare a forecast of the company's income statemen FY2017. 14% Net sales increase Cost of products sold Research and development expense 31.7% of net sales 7.7% of net sales Use the following assumptions to prepare a forecast of the company's income statemer FY2017. Net sales increase Cost of products sold Research and development expense Selling, general, and administrative expense Special charges (gains), net Certain litigation charges, net Restructuring charges, net Acquistion-related items Amortization of intangible assets Other expense, net and Interest expense, net Provision for income taxes 1496 31.7% of net sales 7.7% of net sales 32.8% of net sales $0 $0 75% 1.0% No change No change 20% Of 2016 expense of net sales of pre-tax income Instructions: . Round answers to the nearest whole number. Use rounded answers for any subsequent computations. . Do not use negative signs with any of your answers. Medtronic Inc. Forecasted Consolidated Statement of Income in Millions EST. 2017 Net sales Forecasted Consolidated Statement of Income in Millions EST. 2017 Net sales Costs and expenses Cost of products sold Research and development expense Selling, general, and administrative expense Restructuring charges, net Acquisition-related items Amortization of intangible assets Other expense, net Operating profit Interest expense, net Income from operations before income taxes Provision for income taxes Net income