Reviewing the previous quarters financial statements will provide you with data to construct pro forma financial statements for Starbucks and make some basic projections. This week, you will be charged with constructing two pro forma financial statements and addressing some questions about your projections. The two financial statements will include an Income Statement and Balance Sheet
Calculate the expenses to determine what will change and what will remain the same.
Note: Not all costs are associated with the cost of sales. It will be up to you to determine which line items need to be increased and which ones need to be left alone. This will require you to distinguish between fixed and variable costs.
Starbucks Corp. Consolidated Balance Sheet: Assets Quarterly Data US$ in thousands Jun 27, 2021 4,753,100 153,600 911,200 1,548,200 565,600 Mar 28, 2021 3,880,700 123,000 880,200 1,503,600 592,000 Cash and cash equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Current assets Long-term investments Equity investments Property, plant and equipment, net Operating lease, right-of-use asset Deferred income taxes, net Other long-term assets Other intangible assets Goodwill Long-term assets Total assets 7,931,700 285,900 535,300 6,151,400 8,065,200 1,851,000 586,300 398,000 3,672,000 21,545,100 29,476,800 6,979,500 284,800 499,400 6,123,100 8,036,800 1,770,000 574,900 444,300 3,658,900 21,392,200 28,371,700 Starbucks Corp. Consolidated Income Statement Quarterly Data US$ in thousands 3 months ended: Company-operated stores Licensed stores Other Net revenues Product and distribution costs Gross profit Store operating expenses Other operating expenses Depreciation and amortization expenses General and administrative expenses Restructuring and impairments Income from equity investees Operating income (loss) Gain resulting from acquisition of joint venture Net gain (loss) resulting from divestiture of certain Loss on extinguishment of debt Interest income and other, net Interest expense Earnings (loss) before income taxes Income tax (expense) benefit Net earnings (loss) including noncontrolling interests Net (earnings) loss attributable to noncontrolling interests Net earnings (loss) attributable to Starbucks Jun 27, 2021 6,363,100 680,200 453,200 7,496,500 (2,206,000) 5,290,500 (2,966,900) (71,400) (354,300) (494,900) (19,800) 105,500 1,488,700 Mar 28, 2021 5,653,100 595,000 419,900 6,668,000 (1,992,400) 4,675,600 (2,823,300) (87,700) (366,700) (464,400) (23,000) 77,100 987,600 36,000 (113,400) 1,411,300 (257,100) 1,154,200 (800) 1.153.400 17,300 (115,000) 889,900 (230,500) 659,400 659.400 Starbucks Corp. Consolidated Balance Sheet: Assets Quarterly Data US$ in thousands Jun 27, 2021 4,753,100 153,600 911,200 1,548,200 565,600 Mar 28, 2021 3,880,700 123,000 880,200 1,503,600 592,000 Cash and cash equivalents Short-term investments Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes, net Current assets Long-term investments Equity investments Property, plant and equipment, net Operating lease, right-of-use asset Deferred income taxes, net Other long-term assets Other intangible assets Goodwill Long-term assets Total assets 7,931,700 285,900 535,300 6,151,400 8,065,200 1,851,000 586,300 398,000 3,672,000 21,545,100 29,476,800 6,979,500 284,800 499,400 6,123,100 8,036,800 1,770,000 574,900 444,300 3,658,900 21,392,200 28,371,700 Starbucks Corp. Consolidated Income Statement Quarterly Data US$ in thousands 3 months ended: Company-operated stores Licensed stores Other Net revenues Product and distribution costs Gross profit Store operating expenses Other operating expenses Depreciation and amortization expenses General and administrative expenses Restructuring and impairments Income from equity investees Operating income (loss) Gain resulting from acquisition of joint venture Net gain (loss) resulting from divestiture of certain Loss on extinguishment of debt Interest income and other, net Interest expense Earnings (loss) before income taxes Income tax (expense) benefit Net earnings (loss) including noncontrolling interests Net (earnings) loss attributable to noncontrolling interests Net earnings (loss) attributable to Starbucks Jun 27, 2021 6,363,100 680,200 453,200 7,496,500 (2,206,000) 5,290,500 (2,966,900) (71,400) (354,300) (494,900) (19,800) 105,500 1,488,700 Mar 28, 2021 5,653,100 595,000 419,900 6,668,000 (1,992,400) 4,675,600 (2,823,300) (87,700) (366,700) (464,400) (23,000) 77,100 987,600 36,000 (113,400) 1,411,300 (257,100) 1,154,200 (800) 1.153.400 17,300 (115,000) 889,900 (230,500) 659,400 659.400
