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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, S

Forecasting an Income Statement ADP reports the following income statement. AUTOMATIC DATA PROCESSING INC. Statement of Consolidated Earnings For Year Ended June 30, 2019, S millions Total revenues $12,829. Operating expenses 6,467.0 Systems development and programming costs Depreciation and amortization 576. 304.4 Total cost of revenues 7,347.4 Seling, general, and administrative expenses 2,773.0 interest expense 118.0 Total experses 10,238.4 Other (income) expense, net (101.0 Earnings before income taxes 2,691.6 Provision for income taxes Net earnings 645.0 $2,046.6 Forecast ADP's 2020 income statement assuming the following income statement relations. All percentages (other than total revenue growth and provision for income taxes) are based on historic percent of total revenues. Dollar figures are in millio Assumptions Total revenues growth Depreciation and amortization interest expense Other (income) Ariel Income tax rate 13.00% $460.5 No charge No charge 25.00% Note: Complete the entire question in Excel using the following template: Excel Template. Formal each answer to two decimal plates. Then enter the answers into the provided spaces below with two decimal places. AUTOMATIC DATA PROCESSING INC. Statement of Consolidated Earnings For Year Ended June 30, 2020, $ millions Total revenues Operating expenses Systems development and programming costs Depreciation and amortization Total cost of revenues Selling general, and administrative expenses. Interest expense Total expenses Other (income) expense, net Famings before income taxes Provision for income taxes Not earnings

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