Question: ADP reports the following income statement. AUTOMATIC DATA PROCESSING INC.Statement of Consolidated EarningsFor Year Ended June 3 0 , 2 0 1 9 , $
ADP reports the following income statement. AUTOMATIC DATA PROCESSING INC.Statement of Consolidated EarningsFor Year Ended June $ millionsTotal revenues$Operating expensesSystems development and programming costsDepreciation and amortizationTotal cost of revenuesSelling, general, and administrative expensesInterest expenseTotal expensesOther income expense, netEarnings before income taxesProvision for income taxesNet earnings$ Forecast ADPs income statement assuming the following income statement relations. All percentages other than total revenue growth and provision for income taxes are based on historic percent of total revenues. Dollar figures are in millions AssumptionsTotal revenues growthDepreciation and amortization$Interest expenseNo changeOther income expense, netNo changeIncome tax rate Note: Complete the entire question in Excel using the following template: Excel Template. Format each answer to two decimal places. Then enter the answers into the provided spaces below with two decimal places. Note:Use a negative sign with Other income expense, net answer. AUTOMATIC DATA PROCESSING INC.Statement of Consolidated EarningsFor Year Ended June $ millionsTotal revenuesAnswer Operating expensesAnswer Systems development and programming costsAnswer Depreciation and amortizationAnswer Total cost of revenuesAnswer Selling, general, and administrative expensesAnswer Interest expenseAnswer Total expensesAnswer Other income expense, netAnswer Earnings before income taxesAnswer Provision for income taxesAnswer Net earningsAnswer
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