Forecast the Statement of Cash Flows

Following are the income statement and balance sheet of Seagate Technology.

SEAGATE TECHNOLOGY PLC

Consolidated Statement of Income

$($$ millions$)$ For Year Ended June $2020$

Forecasted June $2019$

Actual

Revenue $10,91010,390$

Cost of revenue $7,8337,458$

Product development $1,036991$

Marketing and administrative $480453$

Amortization of intangibles $2323$

Restructuring and other, net $0(22)$

Total operating expenses $9,3728,903$

Income from operations $1,5381,487$

Interest income $8484$

Interest expense $(224)(224)$

Other, net $2525$

Other expense, net $(115)(115)$

Income before income taxes $1,4231,372$

$($Benefit$)$ provision for income taxes $299(640)$

Net income $1,1242,012$

SEAGATE TECHNOLOGY PLC

Balance Sheet

$($$ millions$)$

June $2020$

Forecasted June $2019$

Actual

Current assets

Cash and cash equivalents $2,9352,220$

Accounts receivable, net $1,036989$

Inventories $1,015970$

Other current assets $196184$

Total current assets $5,1824,363$

Property, equipment and leasehold improvements, net $1,9711,869$

Goodwill $1,2371,237$

Other intangible assets, net $88111$

Deferred income taxes $1,1671,114$

Other assets, net $196191$

Total assets $9,8418,885$

Current liabilities

Accounts payable $1,495$ $$1,420$

Accrued employee compensation $175169$

Accrued warranty $9891$

Accrued expenses $578552$

Total current liabilities $2,3462,232$

Long$-$term accrued warranty $109104$

Long$-$term accrued income taxes $.44$

Other noncurrent liabilities $142130$

Long$-$term debt, less current portion $4,2534,253$

Total liabilities $6,8546,723$

Shareholders$$ equity

Ordinary shares$$ par value $$0\mathrm{.}0001,2\mathrm{.}6$ billion shares authorized, $1,340,697,595$ and

and$1,354,218,154$ shares issued and outstanding, respectively $00$

Additional paid$-$in capital $6,6446,545$

Accumulated other comprehensive loss $(34)(34)$

Accumulated deficit $(3,623)(4,349)$

Total shareholders' equity $2,9872,162$

Total liabilities and shareholders' equity $9,8418,885$

CAPEX $($Increase in gross Property and equipment$)/$Revenue $5\mathrm{.}8\%$

Depreciation expense $$633$

Dividends $$398$

Refer to the Seagate Technology $($STX$)$ financial information above. Prepare a forecast of its FY$2020$ statement of cash flows.

Round all answers to the nearest whole number. Use negative signs with answers, when appropriate.SEAGATE TECHNOLOGY PLC

Forecasted Statement of Cash Flows

$\backslash$table$[[($$ millions$),$June $2020],[$Net income,$1,124],[$Add: Depreciation,$531\mathrm{.}39\backslash$times $],[$Add: Amortization,$23],[$Add: Stock based compensation,$99],[$Change in Accounts receivable, net,$(47)$vv$],[$Change in Inventories,$(45)],[$Change in Other current assets,$(12)$vv$],[$Change in Deferred income taxes,$(53)$vv$],[$Change in Other assets, net,$(5)],[$Change in Accounts payable,$75],[$Change in Accrued employee compensation,$6],[$Change in Accrued warranty,$7$vv$],[$Change in Accrued expenses,$26],[$Change in Long$-$term accrued warranty,$5],[$Change in Long$-$term accrued income taxes,$0],[$Change in Other non$-$current liabilities,$12],[$Cash from operating activities,$1,848\backslash$times $],[$Capital Expenditures,$(633)],[$Net cash from investing activities,$(66)$x$],[$Dividends$,(398)$ v$],[$Net cash from financing activities,$(398)],[$Net change in cash,$(398)$ x$],[$Beginning cash,$2,220],[$Ending cash,$3,037$x$]]$