Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted...
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Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted income statement for the company for the year 2021. WALGREENS Consolidated Statements of Income Projected In millions 2020 2021 Net revenues $177,526 Cost of revenues 148,669 Gross profit 28.857 Total operating expenses 18,519 Operating profit 10,338 Interest expense, net 1,058 1058 Loss on earty extinguishment of debt 643 Income before income tax provision 8,637 Income tax provision 3,317 Income trom continuing operations 5,320 Income (loss) from discontinued operations, net (1) Net income 5.319 Net loss attributable to noncontrolling interest (2) (2) Net income attributable to Walgreens 55317 6121 To forecast the income statements, make the following assumprions. For accounts that are not included in the list below. assume that the amount will not change for the forecasted year. Growth in net revenues 50% Cost of revenues to net revenues 83 7% Operating expenses lo net revenues 10 4% Loss on earty extinguishment of debt Income tax rate 38.4% Loss from discontinued operations Round to the nearest integer (zero decimal places). Do not put commas or S in your answer. 2021 Net revenues: $ million 2021 Cost of revenues: $ million 2021 Gross profit: $ million 2021 Total operating expenses: S million 2021 Operating profit: S million 2021 Loss on early extinguishment of debt: $ million 2021 Income before income tax provision: $ milion 2021 Income tax provision: S million 2021 Income from continuing operations: $ million 2021 Loss from discontinued operations: $ million 2021 Net income: $ million Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted income statement for the company for the year 2021. WALGREENS Consolidated Statements of Income Projected In millions 2020 2021 Net revenues $177,526 Cost of revenues 148,669 Gross profit 28.857 Total operating expenses 18,519 Operating profit 10,338 Interest expense, net 1,058 1058 Loss on earty extinguishment of debt 643 Income before income tax provision 8,637 Income tax provision 3,317 Income trom continuing operations 5,320 Income (loss) from discontinued operations, net (1) Net income 5.319 Net loss attributable to noncontrolling interest (2) (2) Net income attributable to Walgreens 55317 6121 To forecast the income statements, make the following assumprions. For accounts that are not included in the list below. assume that the amount will not change for the forecasted year. Growth in net revenues 50% Cost of revenues to net revenues 83 7% Operating expenses lo net revenues 10 4% Loss on earty extinguishment of debt Income tax rate 38.4% Loss from discontinued operations Round to the nearest integer (zero decimal places). Do not put commas or S in your answer. 2021 Net revenues: $ million 2021 Cost of revenues: $ million 2021 Gross profit: $ million 2021 Total operating expenses: S million 2021 Operating profit: S million 2021 Loss on early extinguishment of debt: $ million 2021 Income before income tax provision: $ milion 2021 Income tax provision: S million 2021 Income from continuing operations: $ million 2021 Loss from discontinued operations: $ million 2021 Net income: $ million Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted income statement for the company for the year 2021. WALGREENS Consolidated Statements of Income Projected In millions 2020 2021 Net revenues $177,526 Cost of revenues 148,669 Gross profit 28.857 Total operating expenses 18,519 Operating profit 10,338 Interest expense, net 1,058 1058 Loss on earty extinguishment of debt 643 Income before income tax provision 8,637 Income tax provision 3,317 Income trom continuing operations 5,320 Income (loss) from discontinued operations, net (1) Net income 5.319 Net loss attributable to noncontrolling interest (2) (2) Net income attributable to Walgreens 55317 6121 To forecast the income statements, make the following assumprions. For accounts that are not included in the list below. assume that the amount will not change for the forecasted year. Growth in net revenues 50% Cost of revenues to net revenues 83 7% Operating expenses lo net revenues 10 4% Loss on earty extinguishment of debt Income tax rate 38.4% Loss from discontinued operations Round to the nearest integer (zero decimal places). Do not put commas or S in your answer. 2021 Net revenues: $ million 2021 Cost of revenues: $ million 2021 Gross profit: $ million 2021 Total operating expenses: S million 2021 Operating profit: S million 2021 Loss on early extinguishment of debt: $ million 2021 Income before income tax provision: $ milion 2021 Income tax provision: S million 2021 Income from continuing operations: $ million 2021 Loss from discontinued operations: $ million 2021 Net income: $ million Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted income statement for the company for the year 2021. WALGREENS Consolidated Statements of Income Projected In millions 2020 2021 Net revenues $177,526 Cost of revenues 148,669 Gross profit 28.857 Total operating expenses 18,519 Operating profit 10,338 Interest expense, net 1,058 1058 Loss on earty extinguishment of debt 643 Income before income tax provision 8,637 Income tax provision 3,317 Income trom continuing operations 5,320 Income (loss) from discontinued operations, net (1) Net income 5.319 Net loss attributable to noncontrolling interest (2) (2) Net income attributable to Walgreens 55317 6121 To forecast the income statements, make the following assumprions. For accounts that are not included in the list below. assume that the amount will not change for the forecasted year. Growth in net revenues 50% Cost of revenues to net revenues 83 7% Operating expenses lo net revenues 10 4% Loss on earty extinguishment of debt Income tax rate 38.4% Loss from discontinued operations Round to the nearest integer (zero decimal places). Do not put commas or S in your answer. 2021 Net revenues: $ million 2021 Cost of revenues: $ million 2021 Gross profit: $ million 2021 Total operating expenses: S million 2021 Operating profit: S million 2021 Loss on early extinguishment of debt: $ million 2021 Income before income tax provision: $ milion 2021 Income tax provision: S million 2021 Income from continuing operations: $ million 2021 Loss from discontinued operations: $ million 2021 Net income: $ million Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted income statement for the company for the year 2021. WALGREENS Consolidated Statements of Income Projected In millions 2020 2021 Net revenues $177,526 Cost of revenues 148,669 Gross profit 28.857 Total operating expenses 18,519 Operating profit 10,338 Interest expense, net 1,058 1058 Loss on earty extinguishment of debt 643 Income before income tax provision 8,637 Income tax provision 3,317 Income trom continuing operations 5,320 Income (loss) from discontinued operations, net (1) Net income 5.319 Net loss attributable to noncontrolling interest (2) (2) Net income attributable to Walgreens 55317 6121 To forecast the income statements, make the following assumprions. For accounts that are not included in the list below. assume that the amount will not change for the forecasted year. Growth in net revenues 50% Cost of revenues to net revenues 83 7% Operating expenses lo net revenues 10 4% Loss on earty extinguishment of debt Income tax rate 38.4% Loss from discontinued operations Round to the nearest integer (zero decimal places). Do not put commas or S in your answer. 2021 Net revenues: $ million 2021 Cost of revenues: $ million 2021 Gross profit: $ million 2021 Total operating expenses: S million 2021 Operating profit: S million 2021 Loss on early extinguishment of debt: $ million 2021 Income before income tax provision: $ milion 2021 Income tax provision: S million 2021 Income from continuing operations: $ million 2021 Loss from discontinued operations: $ million 2021 Net income: $ million Walgreens reported the following income statement for the year ended December 31, 2020. Prepare a forecasted income statement for the company for the year 2021. WALGREENS Consolidated Statements of Income Projected In millions 2020 2021 Net revenues $177,526 Cost of revenues 148,669 Gross profit 28.857 Total operating expenses 18,519 Operating profit 10,338 Interest expense, net 1,058 1058 Loss on earty extinguishment of debt 643 Income before income tax provision 8,637 Income tax provision 3,317 Income trom continuing operations 5,320 Income (loss) from discontinued operations, net (1) Net income 5.319 Net loss attributable to noncontrolling interest (2) (2) Net income attributable to Walgreens 55317 6121 To forecast the income statements, make the following assumprions. For accounts that are not included in the list below. assume that the amount will not change for the forecasted year. Growth in net revenues 50% Cost of revenues to net revenues 83 7% Operating expenses lo net revenues 10 4% Loss on earty extinguishment of debt Income tax rate 38.4% Loss from discontinued operations Round to the nearest integer (zero decimal places). Do not put commas or S in your answer. 2021 Net revenues: $ million 2021 Cost of revenues: $ million 2021 Gross profit: $ million 2021 Total operating expenses: S million 2021 Operating profit: S million 2021 Loss on early extinguishment of debt: $ million 2021 Income before income tax provision: $ milion 2021 Income tax provision: S million 2021 Income from continuing operations: $ million 2021 Loss from discontinued operations: $ million 2021 Net income: $ million
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Related Book For
Principles of Managerial Finance
ISBN: 978-0133507690
14th edition
Authors: Lawrence J. Gitman, Chad J. Zutter
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