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Forecasting an Income Statement ADP reports the following income statement. AUTOMATIC DATA PROCESSING INC. Statement of Consolidated Earnings For Year Ended June 30, 2019, $
Forecasting an Income Statement ADP reports the following income statement. AUTOMATIC DATA PROCESSING INC. Statement of Consolidated Earnings For Year Ended June 30, 2019, $ millions Total revenues $13,041.0 Operating expenses 6,574.0 Systems development and programming costs 585.0 Depreciation and amortization 304.4 Total cost of revenues 7,463.4 Selling, general, and administrative expenses 2,819.0 Interest expense 120.0 Total expenses 10,402.4 Other (income) expense, net (102.0) Earnings before income taxes 2,740.6 Provision for income taxes 656.0 Net earnings $2,084.6 Forecast ADPs 2020 income statement assuming the following income statement relations. All percentages (other than total revenue growth and provision for income taxes) are based on hist
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