Forecast Seagate Technology's 2020 income statement using the following forecast assumptions, which are expressed as a percentage of revenue unless otherwise indicated. 1 . June 2020 $ Revenue growth 596 Cost of revenue 71.8% Product development 9.596 Marketing and administrative 4.496 Restructuring and other, net 50 Income tax expense (9 pretax income) 2196 Forecast no change in the following income statement accounts: Amortization of intangibles, Interest income, Interest expense, and other, net income. Round all answers to the nearest whole number. . Do not use negative signs with any of your answers in the income statement Analyzing, Forecasting, and Interpreting Both Income Statement and Balance Sheet Following are the income statement and balance sheet of Seagate Technology for fiscal 2019. SEAGATE TECHNOLOGY PLC SEAGATE TECHNOLOGY PLC SEAGATE TECHNOLOGY PLC Consolidated Statement of Income Consolidated Balance Sheet Consolidated Statement of Income For Year Ended June 28, 2019 (5 millions) June 28, 2019 (5 millions) Revenue $10.390 Current assets Cost of revenue ($ millions) For Year Ended 7,458 $2,220 Cash and cash equivalents Product development 991 Accounts receivable.net 989 Revenue Marketing and administrative 453 Inventories 970 Cost of revenue Amortization of intangibles 23 Other current assets 184 Product development 4.363 Restructuring and other net (22) Total current assets 1.869 Total operating expenses Property, equipment and leasehold improvements.net Marketing and administrative 8.903 Goodwill 1,237 Income from operations 1,487 Amortization of intangibles Other intangible assets, net Interest income 84 Restructuring and other, net Deferred Income taxes 1,114 Interest expense 224 Total operating expenses Other assets, net 191 Other, net income 25 Total assets $8.885 Income from operations Other expense, net 115 Current liabilities Income before income taxes 1,372 Interest income Accounts payable $1,420 (Benefit) provision for income taxes (640) Interest expense Accrued employee compensation 169 Net income $ 2,012 Accrued warranty 91 Other, net Accrued expenses 552 Other expense, net Total current liabilities 2,232 Income before income taxes Long-term accrued warranty 104 Long-term accrued income taxes. 4 Provision for income taxes Other noncurrent liabilities 130 Net income Long-term debt less current portion 4.253 Total liabilities 6.723 Shareholders' equity Ordinary shares- par value 50.0001, 2.6 billion shares authorized 1,340,697,595 and 1.354.218.154 shares issued and outstanding respectively 0 Additional paid.in capital 6.545 Accumulated other comprehensive loss (34) Accumulated deficit (4,349) Total shareholders' equity 2.162 Total liabilities and shareholders' equity 58.885 $
