Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC . Note: Complete the entire question using the
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 April Net sales $ Costs and expenses Cost of products sold Research and development expense Selling, general, and administrative expense Amortization of intangible assets Restructuring charges, net Certain litigation charges, net Other operating expense, net Operating profit Other nonoperating income, net Interest expense Income before income taxes Income tax provision Net income Net income loss attributable to noncontrolling interests Net income attributable to Medtronic $ Medtronic PLC Consolidated Balance Sheet $ millions April Current assets Cash and cash equivalents $ Investments Accounts receivable, net Inventories, net Other current assets Total current assets Property, plant, and equipment, net Goodwill Other intangible assets, net Tax assets Other assets Total assets $ Current liabilities Current debt obligations $ Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Total current liabilities Longterm debt Accrued compensation and retirement benefits Accrued income taxes Deferred tax liabilities Other liabilities Total liabilities Shareholders equity Ordinary shares Additional paidin capital Retained earnings Accumulated other comprehensive loss Total shareholders equity Noncontrolling interests Total equity Total liabilities and equity $ Income Statement Balance Sheet Use the following assumptions to prepare a forecast of the companys balance sheet for fiscal year 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. Balance sheet assumptions Investments No change Accounts receivable, less allowance of net sales Inventories, net of net sales Other current assets of net sales Goodwill No change Tax assets of net sales Other assets of net sales Accounts payable of net sales Accrued compensation current liability of net sales Accrued compensation and retirement benefits noncurrent liability No change Accrued income taxes current liability of net sales Other accrued expenses of net sales Accrued income taxes noncurrent liability of net sales Deferred tax liabilities of net sales Other liabilities of net sales Ordinary shares No change Accumulated other comprehensive loss No change Net income attributable to noncontrolling interest $ million Dividends in FY $ million CAPEX in FY $ $million, forecast CAPEX at historic of net sales Depreciation expense in FY $ million Amortization expense in FY $ million Debt due in FY $ million Debt due in FY $ million Medtronic PLC Consolidated Balance Sheet $ millions Current assets Cash and cash equivalents Answer Investments Answer Accounts receivable, net Answer Inventories, net Answer Other current assets Answer Total current assets Answer Property, plant, and equipment, net Answer Goodwill Answer Other intangible assets, net Answer Tax assets Answer Other assets Answer Total assets Answer Current liabilities Current debt obligations Answer Accounts payable Answer Accrued compensation Answer Accrued income taxes Answer Other accrued expenses Answer Total current liabilities Answer Longterm debt Answer Accrued compensation and retirement benefits Answer Accrued income taxes Answer Deferred tax liabilities Answer Other liabilities Answer Total liabilities Answer Shareholders equity Ordinary shares Answer Additional paidin capital Answer Retained earnings Answer Accumulated other comprehensive loss Answer Total shareholders equity Answer Noncontrolling interests Answer Total equity Answer Total liabilities and equity Answer
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 April
Net sales $
Costs and expenses
Cost of products sold
Research and development expense
Selling, general, and administrative expense
Amortization of intangible assets
Restructuring charges, net
Certain litigation charges, net
Other operating expense, net
Operating profit
Other nonoperating income, net
Interest expense
Income before income taxes
Income tax provision
Net income
Net income loss attributable to noncontrolling interests
Net income attributable to Medtronic $
Medtronic PLC
Consolidated Balance Sheet
$ millions April
Current assets
Cash and cash equivalents $
Investments
Accounts receivable, net
Inventories, net
Other current assets
Total current assets
Property, plant, and equipment, net
Goodwill
Other intangible assets, net
Tax assets
Other assets
Total assets $
Current liabilities
Current debt obligations $
Accounts payable
Accrued compensation
Accrued income taxes
Other accrued expenses
Total current liabilities
Longterm debt
Accrued compensation and retirement benefits
Accrued income taxes
Deferred tax liabilities
Other liabilities
Total liabilities
Shareholders equity
Ordinary shares
Additional paidin capital
Retained earnings
Accumulated other comprehensive loss
Total shareholders equity
Noncontrolling interests
Total equity
Total liabilities and equity $
Income Statement
Balance Sheet
Use the following assumptions to prepare a forecast of the companys balance sheet for fiscal year
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.
Balance sheet assumptions
Investments No change
Accounts receivable, less allowance of net sales
Inventories, net of net sales
Other current assets of net sales
Goodwill No change
Tax assets of net sales
Other assets of net sales
Accounts payable of net sales
Accrued compensation current liability of net sales
Accrued compensation and retirement benefits noncurrent liability No change
Accrued income taxes current liability of net sales
Other accrued expenses of net sales
Accrued income taxes noncurrent liability of net sales
Deferred tax liabilities of net sales
Other liabilities of net sales
Ordinary shares No change
Accumulated other comprehensive loss No change
Net income attributable to noncontrolling interest $ million
Dividends in FY $ million
CAPEX in FY $ $million, forecast CAPEX at historic of net sales
Depreciation expense in FY $ million
Amortization expense in FY $ million
Debt due in FY $ million
Debt due in FY $ million
Medtronic PLC
Consolidated Balance Sheet
$ millions
Current assets
Cash and cash equivalents Answer
Investments Answer
Accounts receivable, net Answer
Inventories, net Answer
Other current assets Answer
Total current assets Answer
Property, plant, and equipment, net Answer
Goodwill Answer
Other intangible assets, net Answer
Tax assets Answer
Other assets Answer
Total assets Answer
Current liabilities
Current debt obligations Answer
Accounts payable Answer
Accrued compensation Answer
Accrued income taxes Answer
Other accrued expenses Answer
Total current liabilities Answer
Longterm debt Answer
Accrued compensation and retirement benefits Answer
Accrued income taxes Answer
Deferred tax liabilities Answer
Other liabilities Answer
Total liabilities Answer
Shareholders equity
Ordinary shares Answer
Additional paidin capital Answer
Retained earnings Answer
Accumulated other comprehensive loss Answer
Total shareholders equity Answer
Noncontrolling interests Answer
Total equity Answer
Total liabilities and equity Answer
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started