P11-32. Forecast the Income Statement, Balance Sheet, and Statement of Cash Flows Following are fiscal year financial statements of Cisco Systems Inc. LO CIS CISCO SYSTEMS INC. Consolidated Statements of Operations Years Ended (in millions) July 30, 2016 July 25, 2015 $37,254 11,993 49,247 $37,750 11,411 49,161 14,161 4,126 18,287 30,960 15,377 4,103 19,480 29,681 Revenue Product . . . . . . Service .. ..... Total revenue... Cost of sales Product.. Service ..... Total cost of sales. Gross margin ...... Operating expenses Research and development ....... Sales and marketing...... General and administrative............. Amortization of purchased intangible assets .. Restructuring and other charges ... Total operating expenses. Operating income.. Interest income... .... Interest expense.... Other income (loss), net .... Interest and other income (loss), net. .. Income before provision for income taxes... Provision for income taxes.... Net income.... 6,207 9,821 2,040 359 484 6,296 9,619 1,814 303 268 18,300 12,660 1,005 (676) (69) 260 12,920 2,181 $10,739 18,911 10,770 769 (566) 228 431 11,201 2,220 $ 8,981 P11-32. Forecast the Income Statement, Balance Sheet, and Statement of Cash Flows Following are fiscal year financial statements of Cisco Systems Inc. LO CIS CISCO SYSTEMS INC. Consolidated Statements of Operations Years Ended (in millions) July 30, 2016 July 25, 2015 $37,254 11,993 49,247 $37,750 11,411 49,161 14,161 4,126 18,287 30,960 15,377 4,103 19,480 29,681 Revenue Product . . . . . . Service .. ..... Total revenue... Cost of sales Product.. Service ..... Total cost of sales. Gross margin ...... Operating expenses Research and development ....... Sales and marketing...... General and administrative............. Amortization of purchased intangible assets .. Restructuring and other charges ... Total operating expenses. Operating income.. Interest income... .... Interest expense.... Other income (loss), net .... Interest and other income (loss), net. .. Income before provision for income taxes... Provision for income taxes.... Net income.... 6,207 9,821 2,040 359 484 6,296 9,619 1,814 303 268 18,300 12,660 1,005 (676) (69) 260 12,920 2,181 $10,739 18,911 10,770 769 (566) 228 431 11,201 2,220 $ 8,981