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Forecast an Income Statement Seagate Technology reports the following income statement for fiscal 2019. SEGATE TECHNOLOGY PLC Consolidated Statement of Income For Year Ended June
Forecast an Income Statement Seagate Technology reports the following income statement for fiscal 2019. SEGATE TECHNOLOGY PLC Consolidated Statement of Income For Year Ended June 28, 2019, $ millions Revenue $18,702 Cost of revenue 13,424 Product development 1784 Marketing and administrative 815 Amortization of intangibles 41 Restructuring and other, net (40) Total operating expenses 16,024 Income from operations 2,678 Interest income 151 Interest expense (403) Other, net 45 Other expense, net Income before income taxes 2,471 (Benefit) provision for income taxes (1,152) Net income $3,623 (207) Forecast Seagate's 2020 income statement assuming the following income statement relations ($ millions). Revenue growth 596 Cost of revenue 71.896 of revenue Product development 9.596 of revenue Marketing and administrative 4.4% of revenue Amortization of intangibles No change Restructuring and other, net $0 Interest income No change Interest expense No change Other, net No change Income tax rate 2196 Note: Round your answers below to the nearest whole dollar. SEAGATE TECHNOLOGY PLC Forecasted Income Statement For Year Ended $ millions June 2020 Revenue 0 Cost of revenue 0 Product development 0 Marketing and administrative 0 Amortization of intangibles 0 Restructuring and other, net 0 Total operating expenses 0 Income from operations 0 Interest income 0 Interest expense 0 Other, net 0 Other expense, net 0 Income before income taxes 0 (Benefit) provision for income taxes 0 Net income 0
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