Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Note: Complete the entire question using the following Excel template: Excel Template. Then enter the answers into the provided spaces below with two decimal places. Medtronic PLC Consolidated Statement of Income $ millions, For Fiscal Year Ended Net sales $30,557 Costs and expenses Cost of products sold 9,155 Research and development expense 2,330 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 198 Certain litigation charges, net 166 Other operating expense, net 258 Operating profit 6,268 Other nonoperating income, net (373) Interest expense 1,444 Income before income taxes 5197 Income tax provision 547 Net income 4,650 (19) Net income attributable to Medtronic $4,631 Consolidated Balance Sheet April 26, $ millions 2019 Current assets Cash and cash equivalents $4,393 Investments 5,455 Accounts receivable, net 6,222 Inventories, net 3,753 Other current assets 2,144 Total current assets 21,967 Property, plant, and equipment, net 4,675 Goodwill 39,959 Other intangible assets, net 20,560 Tax assets 1,519 Other assets 1,014 Total assets $89,694 Current liabilities Current debt obligations $838 Accounts payable 1,953 Accrued compensation 2,189 Accrued income taxes 567 Other accrued expenses 2,925 Total current liabilities 8,472 Long-term debt 24,486 Accrued compensation and retirement benefits 1,651 Accrued income taxes 2,838 Deferred tax liabilities 1,278 Other liabilities 757Deferred tax liabilities 1,278 Other liabilities 757 Total liabilities 39,482 Shareholders' equity Ordinary shares 0 Additional paid-in capital 26,532 Retained earnings 26,270 Accumulated other comprehensive loss 2711) Total shareholders' equity 50,091 Noncontrolling interests 121 Total equity 50,212 Total liabilities and equity $89,694 Income Statement Balance Sheet Use the following assumptions to prepare a forecast of the company's balance sheet for fiscal year 2020. Note: Complete the entire question in Excel (template provided above). Using Excel, format each answer to two decimal places. Use crease 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. Balance sheet assumptions Investments No change Accounts receivable, less allowance 20.4% | of net sales Inventories, net 12.3% of net sales Other current assets 7% of net sales Goodwill No change Tax assets 5% | of net sales Other current assets 7%% Of net sales Goodwill No change Tax assets 5% of net sales Other assets 3.3% of net sales Accounts payable 6.4% of net sales Accrued compensation (current liability) 7.2% of net sales Accrued compensation and retirement benefits (noncurrent liability) No change Accrued income taxes (current liability) 1.9% of net sales Other accrued expenses 9.6% of net sales Accrued income taxes (noncurrent liability) 9.3% of net sales Deferred tax liabilities 4.2% of net sales Other liabilities 2.5% of net sales Ordinary shares No change Accumulated other comprehensive loss No change Net income attributable to noncontrolling interest $19 million Dividends in FY2020 $2,853 million CAPEX in FY2019 $1,134 $million, forecast CAPEX at historic % of net sales Depreciation expense in FY2020 $950 million Amortization expense in FY2020 $1,914 million Debt due in FY2020 $838 million Debt due in FY2021 $2,058 million Medtronic PLC Consolidated Balance Sheet $ millions 2020 Current assets Adash and cash equivalents $ 4493 x Investments 5455Medtronic PLC Consolidated Balance Sheet $ millions 2020 Current assets Cash and cash equivalents $ 4493 x Investments 5455 Accounts receivable, net 6233.63 x Inventories, net 3758.51 x Other current assets 2138.99 x Total current assets 21979.13 x Property, plant, and equipment, net 0 * Goodwill 0 x Other intangible assets, net 0 x Tax assets 0 x Other assets 0 x Total assets $ 0 X Current liabilities Current debt obligations $ 0 X Accounts payable 0 X Accrued compensation 0 x Accrued income taxes 0 x Other accrued expenses 0 x Total current liabilities 0 x Long-term debt 0 x Accrued compensation and retirement benefits 0 X Accrued income taxes 0 x Deferred tax liabilities 0 X Other liabilities nICurrent liabilities Current debt obligations Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Total current liabilities Long-term debt Accrued compensation and retirement benefits Accrued income taxes Deferred tax liabilities Other liabilities Total liabilities Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and equity oo o 0 O O ol O O o O X|X X X X X X | X X X X X o|lo|lo ol o o o XX |X X (X X X