Forecast Income Statement and Balance SheetFollowing 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 PLCConsolidated Statement of Income$ millions, For Fiscal Year EndedApril $26,2019$Net sales$$30,557$Costs and expensesCost of products sold$9,155$Research and development expense$932$Selling, general, and administrative expense$10,418$Amortization of intangible assets$1,764$Restructuring charges, net$79$Certain litigation charges, net$166$Other operating expense, net$258$Operating profit$7,785$Other nonoperating income, net$(149)$Interest expense$1,444$Income before income taxes$6,490$Income tax provision$547$Net income$5,943$Net income loss attributable to noncontrolling interests$(19)$Net income attributable to Medtronic$$5,924$Medtronic PLCConsolidated Balance Sheet$ millionsApril $26,2019$Current assetsCash and cash equivalents$$4,393$Investments$5,455$Accounts receivable, net$6,222$Inventories, net$3,753$Other current assets$858$Total current assets$20,681$Property, plant, and equipment, net$4,675$Goodwill$39,959$Other intangible assets, net$20,560$Tax assets$608$Other assets$1,014$Total assets$$87,497$Current liabilitiesCurrent debt obligations$$838$Accounts payable$1,953$Accrued compensation$2,189$Accrued income taxes$567$Other accrued expenses$2,925$Total current liabilities$8,472$Long$-$term debt$24,486$Accrued compensation and retirement benefits$1,651$Accrued income taxes$2,838$Deferred tax liabilities$1,278$Other liabilities$303$Total liabilities$39,028$Shareholders equityOrdinary shares$0$Additional paid$-$in capital$24,789$Retained earnings$26,270$Accumulated other comprehensive loss$(2,711)$Total shareholders equity$48,348$Noncontrolling interests$121$Total equity$48,469$Total liabilities and equity$$87,497$Income StatementBalance SheetUse the following assumptions to prepare a forecast of the companys income statement for fiscal year $2020.$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.Income statement assumptionsNet sales increase$8\%$growthCost of products sold$30\mathrm{.}0\%$of net salesResearch and development expense$7\mathrm{.}6\%$of net salesSelling, general, and administrative expense$34\mathrm{.}1\%$of net salesAmortization of intangible assets$5\mathrm{.}8\%$of net salesRestructuring charges, net$75\%$of $2019$ restructuring expenseCertain litigation charges, net$$150$millionOther operating expense, netNo change in $ amountOther nonoperating income, netNo change in $ amountInterest expenseNo change in $ amountIncome tax provision$15\%$of pretax incomeIncome attributable to noncontrolling interestsNo change in $ amount

$\backslash$table$[[$Net sales,$$33,001\mathrm{.}56$