Income Statement - Seagate Technology
(in millions)	7/1/2022
Revenue	$11,661.0
Cost of revenue	8,192.0
Product development costs	941.0
Marketing & administrative expenses	559.0
Amortization of intangibles	11.0
Restructuring & other operating expenses, net	3.0
Income from operations	1,955.0
Interest income (expense)	(247.0)
Other income (expense)	(29.0)
Income before income taxes	1,679.0
Provision for (benefit) income taxes	30.0
Net income	$1,649.0

An analyst provides the following assumptions used to forecast earnings in year 2023. Assume 'no change' for accounts not listed. Depreciation expense is included in marketing & administrative expenses.

Assumptions used to forecast income statement in fiscal year 2023
(dollar amounts in millions)
Revenue change (%)	1.4%
Cost of revenue, as a % of revenue	76.2%
Product development costs, as a % of revenue	12.0%
Marketing and administrative expenses, as a % of revenue	8.2%
Restructuring & other operating expenses	$0.0
Provision for income taxes, as a % of pre-tax income	22.0%

Use the information above to prepare a forecasted income statement for fiscal year 2023. Then, answer the following questions.

a.	Calculate forecasted cost of revenue for 2023.	Question Blank 1 of 3
b.	Calculate forecasted income from operations for 2023.	Question Blank 2 of 3
c.	Calculate forecasted net income for 2023.	Question Blank 3 of 3