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Forecast Income Statement and Balance SheetFollowing are the income statement and balance sheet for Medtronic PLC . Note: Complete the entire question using the following
Forecast Income Statement and Balance SheetFollowing are the income statement and balance sheet for Medtronic PLCNote: 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 Net sales$Costs and expensesCost of products soldResearch and development expenseSelling, general, and administrative expenseAmortization of intangible assetsRestructuring charges, netCertain litigation charges, netOther operating expense, netOperating profitOther nonoperating income, netInterest expenseIncome before income taxesIncome tax provisionNet incomeNet income loss attributable to noncontrolling interestsNet income attributable to Medtronic$Medtronic PLCConsolidated Balance Sheet$ millionsApril Current assetsCash and cash equivalents$InvestmentsAccounts receivable, netInventories, netOther current assetsTotal current assetsProperty, plant, and equipment, netGoodwillOther intangible assets, netTax assetsOther assetsTotal assets$Current liabilitiesCurrent debt obligations$Accounts payableAccrued compensationAccrued income taxesOther accrued expensesTotal current liabilitiesLongterm debtAccrued compensation and retirement benefitsAccrued income taxesDeferred tax liabilitiesOther liabilitiesTotal liabilitiesShareholders equityOrdinary sharesAdditional paidin capitalRetained earningsAccumulated other comprehensive lossTotal shareholders equityNoncontrolling interestsTotal equityTotal liabilities and equity$Income StatementBalance SheetUse the following assumptions to prepare a forecast of the companys income statement 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 placesNote: Use negative signs with answers, when appropriate.Income statement assumptionsNet sales increasegrowthCost of products soldof net salesResearch and development expenseof net salesSelling, general, and administrative expenseof net salesAmortization of intangible assetsof net salesRestructuring charges, netof restructuring expenseCertain litigation charges, net$millionOther operating expense, netNo change in $ amountOther nonoperating income, netNo change in $ amountInterest expenseNo change in $ amountIncome tax provisionof pretax incomeIncome attributable to noncontrolling interestsNo change in $ amount tableNet sales,$
Forecast Income Statement and Balance SheetFollowing are the income statement and balance sheet for Medtronic PLCNote: 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 Net sales$Costs and expensesCost of products soldResearch and development expenseSelling, general, and administrative expenseAmortization of intangible assetsRestructuring charges, netCertain litigation charges, netOther operating expense, netOperating profitOther nonoperating income, netInterest expenseIncome before income taxesIncome tax provisionNet incomeNet income loss attributable to noncontrolling interestsNet income attributable to Medtronic$Medtronic PLCConsolidated Balance Sheet$ millionsApril Current assetsCash and cash equivalents$InvestmentsAccounts receivable, netInventories, netOther current assetsTotal current assetsProperty, plant, and equipment, netGoodwillOther intangible assets, netTax assetsOther assetsTotal assets$Current liabilitiesCurrent debt obligations$Accounts payableAccrued compensationAccrued income taxesOther accrued expensesTotal current liabilitiesLongterm debtAccrued compensation and retirement benefitsAccrued income taxesDeferred tax liabilitiesOther liabilitiesTotal liabilitiesShareholders equityOrdinary sharesAdditional paidin capitalRetained earningsAccumulated other comprehensive lossTotal shareholders equityNoncontrolling interestsTotal equityTotal liabilities and equity$Income StatementBalance SheetUse the following assumptions to prepare a forecast of the companys income statement 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 placesNote: Use negative signs with answers, when appropriate.Income statement assumptionsNet sales increasegrowthCost of products soldof net salesResearch and development expenseof net salesSelling, general, and administrative expenseof net salesAmortization of intangible assetsof net salesRestructuring charges, netof restructuring expenseCertain litigation charges, net$millionOther operating expense, netNo change in $ amountOther nonoperating income, netNo change in $ amountInterest expenseNo change in $ amountIncome tax provisionof pretax incomeIncome attributable to noncontrolling interestsNo change in $ amount
tableNet sales,$
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