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Item 1 Financial Statements and Supplementary Data STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS (in millions, $US) Sep 29, Sep 30, Oct 1, Fiscal Year Ended
Item 1 Financial Statements and Supplementary Data STARBUCKS CORPORATION CONSOLIDATED STATEMENTS OF EARNINGS (in millions, $US) Sep 29, Sep 30, Oct 1, Fiscal Year Ended 2023 2022 2021 Revenue Cost of Goods Sold (COGS) Store operating expenses 10,493 9,472 8,486 Depreciation and amortization expenses 1,377 1,247 1,011 Interest expense 331 925 Income tax expense 871 1,262 1,432 170 Answer all the questions below. Q2a. If we were to assume that the Cost of Goods Sold (COGS) is 55%, 60%, and 65% of the revenue (sales) volume of 2023, 2022, and 2021, respectively, what would be the revenue (sales) estimate for each year? Show your calculations. Note that the unit above is in millions, SUS. 2023 revenue (sales), assuming 55% of revenue is COGS: 2022 revenue (sales), assuming 60% of revenue is COGS: 2021 revenue (sales), assuming 65% of revenue is COGS: Q2b. Based on your revenue (sales) estimate in Q2a, if Starbucks were to only sell one type of espresso at $5, and espressos are the only item that is sold, how many cups of espressos in each year of 2023, 2022, and 2021 should Starbucks need to sell to cover its Store operating expense and COGS? Note for this question, you need not put into consideration: Depreciation and amortization expenses, Interest expense, and Income tax expense. Also note that the numbers in the table is "in millions, US$," so 871.6 would be US$ 871,600,000, for example. Q2c. Based on the income statement above (Item 1) and your estimate for sales in Q2a, what is the gross profit, gross profit margin, net profit, net profit margin in 2023, 2022, and 2021? Show your calculations below, and then fill in the summary table below. Calculations: Summary Table 2023 2022 2021 Gross profit Gross profit margin (%) Net profit Net profit margin (%)
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