Statement of Cash Flows (Indirect Method) Following are the income statement and balance sheet for Seagate Technology for the year ended June 28, 2019, and a forecasted income statement and balance sheet for 2020.

The following additional information pertains to the balance sheet and income statement for the year ended June 30, 2020 ($ millions).

Required Prepare a forecasted statement of cash flows for June 2020 using the indirect method. (Hint: Stockbased compensation is a noncash expense like depreciation and must be added back in the operating section. The amount expensed is also added to the companys Additional paid-in capital account in the balance sheet.)

\begin{tabular}{|l|r|r|} \hline \multicolumn{3}{|c|}{ Consolidated Statements of Income } \\ \hline \multicolumn{1}{|c|}{ For Years Ended (\$ millions) } & \multicolumn{1}{c|}{ Actual } & \multicolumn{1}{c|}{ Est. } \\ \hline Revenue & $51,950 & $54,550 \\ \hline Cost of revenue & 37,290 & 39,165 \\ \hline Product development & 4955 & 5,180 \\ \hline Marketing and administrative & 2265 & 2400 \\ \hline Amortization of intangibles & 115 & 115 \\ \hline Restructuring and other, net & (110) & 0 \\ \hline Total operating expense & 44,515 & 46,860 \\ \hline Income from operations & 7,435 & 7,690 \\ \hline Interest income & 420 & 420 \\ \hline Interest expense & (1,120) & (1,120) \\ \hline Other, net & 125 & 125 \\ \hline Other expense, net & (575) & (575) \\ \hline Income before income taxes & 6,860 & 7,115 \\ \hline (Benefit) provision for income taxes & (3,200) & 1495 \\ \hline Net income & $10,060 & $5,620 \\ \hline \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multirow[b]{2}{*}{ For Years Ended (\$ millions) } & \begin{tabular}{l} June \\ 2019 \end{tabular} & \begin{tabular}{l} June \\ 2020 \end{tabular} \\ \hline & Actual & Est. \\ \hline \multicolumn{3}{|l|}{ Current assets } \\ \hline Cash and cash equivalents & $11,100 & $12,915 \\ \hline Accounts receivable, net & 4945 & 5,180 \\ \hline Inventories & 4850 & 5,075 \\ \hline Other current assets & 920 & 980 \\ \hline Total current assets & 21,815 & 24,150 \\ \hline Property, equipment and leasehold improvements, net & 9,345 & 9,855 \\ \hline Goodwill & 6,185 & 6,185 \\ \hline Other intangible assets, net & 555 & 440 \\ \hline Deferred income taxes & 5,570 & 5,835 \\ \hline Other assets, net & 955 & 980 \\ \hline Total Assets & $44,425 & $47,445 \\ \hline \multicolumn{3}{|l|}{ Current liabilities } \\ \hline Accounts payable & $7,100 & $7,475 \\ \hline Accrued employee compensation & 845 & 875 \\ \hline Accrued warranty & 455 & 490 \\ \hline Accrued expenses & 2760 & 2890 \\ \hline Total current liabilities & 11,160 & 11,730 \\ \hline Long-term accrued warranty & 520 & 545 \\ \hline Long-term accrued income taxes & 20 & 20 \\ \hline Other noncurrent liabilities & 650 & 710 \\ \hline Long-term debt, less current portion & 21,265 & 21,265 \\ \hline Total liabilities & 33,615 & 34,270 \\ \hline \multicolumn{3}{|l|}{ Shareholders' equity } \\ \hline \multicolumn{3}{|l|}{ Ordinary shares-par value $0.0001, } \\ \hline 2.6 billion shares authorized & - & - \\ \hline Additional paid-in capital & 32,725 & 33,220 \\ \hline \end{tabular} \begin{tabular}{|l|r|r|} \hline Accumulated other comprehensive loss & (170) & (170) \\ \hline Accumulated deficit & (21,745) & (19,875) \\ \hline Total shareholders' equity & 10,810 & 13,175 \\ \hline Total liabilities and shareholders' equity & $44,425 & $47,445 \\ \hline \end{tabular} \begin{tabular}{|l|r|} \hline Depreciation expense (included in operating expenses) & $2,655 \\ \hline Stock-based compensation & 495 \\ \hline Amortization expense & 115 \\ \hline Capital expenditures & 3165 \\ \hline Dividends & 3750 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \begin{tabular}{r} SEAGATE TECHNOLOGY PLC \\ Statement of Cash Flows (\$ Milli \\ Forecasted for Year Ended June 30 \end{tabular} & & \\ \hline Net income & $ & 0 \\ \hline Add: Depreciation & & 0 \\ \hline Add: Amortization & & 0 \\ \hline^ & & 0 \\ \hline Accounts receivable, net increase & & 0 \\ \hline Inventories increase & & 0 \\ \hline Other current assets increase & & 0 \\ \hline Deferred income taxes increase & & 0 \\ \hline Other assets, net increase & & 0 \\ \hline Accounts payable increase & & 0 \\ \hline Accrued employee compensation increase & & 0 \\ \hline Accrued warranty increase & & 0 \\ \hline Accrued expenses increase & & 0 \\ \hline Long-term accrued warranty increase & & 0 \\ \hline Other non-current liabilities increase & & 0 \\ \hline & & 0 \\ \hline & & 0 \\ \hline^ & & 0 \\ \hline^ & & 0 \\ \hline^ & & 0 \\ \hline Net change in cash & & 0 \\ \hline Beginning cash & & 0 \\ \hline Ending cash & $ & 0 \\ \hline \end{tabular}