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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 3 0 ,
Forecasting an Income Statement ADP reports the following income statement. AUTOMATIC DATA PROCESSING INC. Statement of Consolidated Earnings For Year Ended June $ 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 Earnings before income taxes Provision for income taxes Net earnings $ Forecast ADPs 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 millions Assumptions Total revenues growth Depreciation and amortization $ Interest expense No change Other income expense, net No change Income tax rate Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. 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 $ millions Total revenues Answer Operating expenses Answer Systems development and programming costs Answer Depreciation and amortization Answer Total cost of revenues Answer Selling, general, and administrative expenses Answer Interest expense Answer Total expenses Answer Other income expense, net Answer Earnings before income taxes Answer Provision for income taxes Answer Net earnings Answer
Forecasting an Income Statement
ADP reports the following income statement.
AUTOMATIC DATA PROCESSING INC.
Statement of Consolidated Earnings
For Year Ended June $ 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
Earnings before income taxes
Provision for income taxes
Net earnings $
Forecast ADPs 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 millions
Assumptions
Total revenues growth
Depreciation and amortization $
Interest expense No change
Other income expense, net No change
Income tax rate
Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. 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 $ millions
Total revenues Answer
Operating expenses Answer
Systems development and programming costs Answer
Depreciation and amortization Answer
Total cost of revenues Answer
Selling, general, and administrative expenses Answer
Interest expense Answer
Total expenses Answer
Other income expense, net Answer
Earnings before income taxes Answer
Provision for income taxes Answer
Net earnings Answer
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