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Forecast ADPs 2 0 2 0 income statement assuming the following income statement relations. All percentages ( other than total revenue growth and provision for
Forecast ADPs income statement assuming the following income statement relations. All percentages other than total revenue growth and provision for income taxes are based on historic percent of total revenues. Dollar figures are in millionsAssumptionsTotal revenues growthDepreciation and amortization$Interest expenseNo changeOther income expense, netNo changeIncome tax rateNote: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places.AUTOMATIC DATA PROCESSING INC.Statement of Consolidated EarningsFor Year Ended June $ millionsTotal revenuesAnswerOperating expensesAnswerSystems development and programming costsAnswerDepreciation and amortizationAnswerTotal cost of revenuesAnswerSelling, general, and administrative expensesAnswerInterest expenseAnswerTotal expensesAnswerOther income expense, netAnswer
Calculate Earnings before income taxes Provision for income taxes Net earnings
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