EGATE TECHNOLOGY PLC

Consolidated Statement of Income

$ millions June $2020$

Revenue Answer $1$

Cost of revenue Answer $2$

Product development Answer $3$

Marketing and administrative Answer $4$

Amortization of intangibles Answer $5$

Restructuring and other, net Answer $6$

Total operating expenses Answer $7$

Income from operations Answer $8$

Interest income Answer $9$

Interest expense Answer $10$

Other, net Answer $11$

Other expense, net Answer $12$

Income before income taxes Answer $13$

$($Benefit$)$ provision for income taxes Answer $14$

Net income Answer $15$

Forecast Seagate Technology$$s $2020$ 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 $9\mathrm{.}5\%$ of revenue

Inventories $9\mathrm{.}3\%$ of revenue

Other current assets $1\mathrm{.}8\%$ of revenue

Deferred income taxes $10\mathrm{.}7\%$ of revenue

Other assets, net $1\mathrm{.}8\%$ of revenue

Accounts payable $13\mathrm{.}7\%$ of revenue

Accrued employee compensation $1\mathrm{.}6\%$ of revenue

Accrued warranty $0\mathrm{.}9\%$ of revenue

Accrued expenses $5\mathrm{.}3\%$ of revenue

Long$-$term accrued warranty $1\mathrm{.}0\%$ of revenue

Other noncurrent liabilities $1\mathrm{.}3\%$ 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 $5\mathrm{.}8\%$ of revenue

Depreciation expense $5\mathrm{.}4\%$ of beginning Property, equipment and leasehold improvements, gross

Beginning Property, equipment and leasehold improvements, gross $$9,835$ 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 $35\mathrm{.}4\%$

SEAGATE TECHNOLOGY PLC Consolidated Balance Sheet

Consolidated Balance Sheet

$ millions June $2020$

Current assets

Cash and cash equivalents Answer $16$

Accounts receivable, net Answer $17$

Inventories Answer $18$

Other current assets Answer $19$

Total current assets Answer $20$

Property, equipment and leasehold improvements, net Answer $21$

Goodwill Answer $22$

Other intangible assets, net Answer $23$

Deferred income taxes Answer $24$

Other assets, net Answer $25$

Total assets Answer $26$

Current liabilities

Accounts payable Answer $27$

Accrued employee compensation Answer $28$

Accrued warranty Answer $29$

Accrued expenses Answer $30$

Total current liabilities Answer $31$

Long$-$term accrued warranty Answer $32$

Long$-$term accrued income taxes $.$ Answer $33$

Other noncurrent liabilities Answer $34$

Long$-$term debt, less current portion Answer $35$

Total liabilities Answer $36$

Shareholders$$ equity

Ordinary shares$$ par value $$0\mathrm{.}0001,2\mathrm{.}6$ billion shares authorized, $1,340,697,595$ and

$1,354,218,154$ shares issued and outstanding, respectively Answer $37$

Additional paid$-$in capital Answer $38$

Accumulated other comprehensive loss Answer $39$

Accumulated deficit Answer $40$

Total shareholders' equity Answer $41$

Total liabilities and shareholders' equity Answer $42$