please help determine the remaining answers.
Question 1 Partially correct Mark 23.00 out of 48.00 V Flag question Analyze, Forecast, and Interpret Income Statement and Balance Sheet Following are the income statement and balance sheet of DP Inc. DATA PROCESSING INC. Statement of Consolidated Earnings For Year Endedjune 30, 2019, s millions Total revenues $11,340.2 Operating expenses 5,716.7 Systems development and programming costs 509.0 Depreciation and amortization 243.5 Total costrof revenues V 7 . V 6,469.2 Selling, general, and administrative expenses 2,451.4 Interest expense 103.9 Total expenses 9,024.5 Other (income) expense, net (889) Earnings before income taxes 2,404.6 Provision for income taxes 570.2 Net earnings $1 ,834.4 DATA PROCESSING INC, Balance Sheet smillions June 30,2019 Current assets ' Cash and cash equivalents ' 51,5595 Accounts receivable, net ' 1,951.4 Other current assets ' 415.7 Total current assets before funds held for clients ' 3,926.6 Funds half for clients ' 23,547.4 Total current assets ' 27,4740 Long-term receivables, net ' 19.0 Property, plant and equipment, net ' 611.4 ' Capitalized contract cost, net ' 1,942.8 Goodwill, long-term debt, preferred stock, common stock, and Accumulated other comprehensive loss will not change for the year. The company will acquire intangibles equal to 2.9% of total revenues and will record amortization expense of $220.9 million. Income taxes will be 25% of pretax income and income taxes payable will be 7.7% of 2020 tax expense. The company will award $133.8 million of stock-based compensation, which increases Capital in excess of par value by the same amount, Assume that the company routinely includes this form of compensation in operating expenses each year. The company will continue its stock repurchases. DP will repurchase $600 million of treasury stock. c Dividends will be $1,111.50 in 2020, and dividends payable will be 26.3% of dividends. Note: Round your answers to one decimal place (for example, enter 14.6 for 14.55555). DATA PROCESSING, INC. Forecasted Income Statement For Year Endedjune 30,2020 s millions Forecast Total Revenues ' 12814.4 v Operating expenses 6,459.9 ./ Systems development & programming costs 575 ./ Depreciation and Amortization 368.4 V Total cost of revenues 7,403.3 Selling, general, and administrative expenses 2,770.1 x Interest expense 103.9 v Total Expenses ' 10,2773 v Other (income)/expense, net ' 100.5 x Earnings before income taxes ' 2,637.6 X Provision for income taxes . 659.4 X Net Earnings 1,978.2 x DATA PROCESSING, INC. Forecasted Balance Sheet June 30, 2020 S millions Forecast Current assets Cash and cash equivalents $ 948.2 x Accounts receivable, net 2,205 v Other current assets 469.7 at Total current assets before funds held for clients 3,622.9 x Funds held for clients 26,608] at Total current assets 3,623 x Longterm receivables, net 21.5 x Property, plant and equipment, net 604 v Capitalized Contract Cost, Net 2,195.4 x Other assets 844.675 v Goodwill 1,858.4 v Intangible assets, net 1,007 v Total assets 35 37,983 X Current liabilities Accounts payable 113.5 v Accrued expenses and other current liabilities 1,590.1 v Accrued payroll and payrollre|ated expenses 651.9 v Dividends payable 292.3 v Shortterm deferred revenues 199 X Obligations under reverse repo agreements 809 3: Income taxes payable 45 3: Total current liabilities before client funds obligations 3,495.2 3: Client funds obligations 26346.6 v Total current liabilities 29,8413 3: Long-term debt 1,601.8 v Other liabilities 1 x Deferred income taxes 597 3: Long-term deferred revenues 360.9 3: Total liabilities $ 33,330.464 x Shareholders' equity: Preferred stock, $1.00 parvalue: Authorized, 0.3 shares; issued, none 0 ./ Common stock, $0.10 par value: authorized, 1,000.0 shares; issued, 511.0 shares; outstanding 347.4 shares 51.1 ./ Capital in excess of par value 1,080 ./ Retained earnings 14,8672 at Treasury stock, at cost: 1636 shares (11,0724) 0/ Accumulated other comprehensive loss (205) v Total stockholders' equity 4,721 at Total liabilities and stockholders' equity 36,763 x
