SEAGATE TECHNOLOGY PLC Consolidated Statement of Income ($ millions) For Year Ended	June 2020 Forecasted	June 2019 Actual
Revenue	10,910	10,390
Cost of revenue	7,833	7,458
Product development	1,036	991
Marketing and administrative	480	453
Amortization of intangibles	23	23
Restructuring and other, net	0	(22)
Total operating expenses	9,372	8,903
Income from operations	1,538	1,487
Interest income	84	84
Interest expense	(224)	(224)
Other, net	25	25
Other expense, net	(115)	(115)
Income before income taxes	1,423	1,372
(Benefit) provision for income taxes	299	(640)
Net income	1,124	2,012

SEAGATE TECHNOLOGY PLC Balance Sheet ($ millions)	June 2020 Forecasted	June 2019 Actual
Current assets
Cash and cash equivalents	2,935	2,220
Accounts receivable, net	1,036	989
Inventories	1,015	970
Other current assets	196	184
Total current assets	5,182	4,363
Property, equipment and leasehold improvements, net	1,971	1,869
Goodwill	1,237	1,237
Other intangible assets, net	88	111
Deferred income taxes	1,167	1,114
Other assets, net	196	191
Total assets	9,841	8,885
Current liabilities
Accounts payable	1,495	$1,420
Accrued employee compensation	175	169
Accrued warranty	98	91
Accrued expenses	578	552
Total current liabilities	2,346	2,232
Long-term accrued warranty	109	104
Long-term accrued income taxes .	4	4
Other noncurrent liabilities	142	130
Long-term debt, less current portion	4,253	4,253
Total liabilities	6,854	6,723
Shareholders equity
Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,340,697,595 and
and1,354,218,154 shares issued and outstanding, respectively	0	0
Additional paid-in capital	6,644	6,545
Accumulated other comprehensive loss	(34)	(34)
Accumulated deficit	(3,623)	(4,349)
Total shareholders' equity	2,987	2,162
Total liabilities and shareholders' equity	9,841	8,885

CAPEX (Increase in gross Property and equipment)/Revenue	5.8%
Depreciation expense	$633
Dividends	$398

Refer to the Seagate Technology (STX) financial information above. Prepare a forecast of its FY2020 statement of cash flows.

Round all answers to the nearest whole number. Use negative signs with answers, when appropriate.

SEAGATE TECHNOLOGY PLC Forecasted Statement of Cash Flows
($ millions)	June 2020
Net income	Answer
Add: Depreciation	Answer
Add: Amortization	Answer
Add: Stock based compensation	Answer
Change in Accounts receivable, net	Answer
Change in Inventories	Answer
Change in Other current assets	Answer
Change in Deferred income taxes	Answer
Change in Other assets, net	Answer
Change in Accounts payable	Answer
Change in Accrued employee compensation	Answer
Change in Accrued warranty	Answer
Change in Accrued expenses	Answer
Change in Long-term accrued warranty	Answer
Change in Long-term accrued income taxes	Answer
Change in Other non-current liabilities	Answer
Cash from operating activities	Answer
Capital Expenditures	Answer
Net cash from investing activities	Answer
Dividends	Answer
Net cash from financing activities	Answer
Net change in cash	Answer
Beginning cash	Answer
Ending cash	Answer