Question: L 0 1 1 - 2 M 1 1 - 1 1 . Forecast an Income Statement ADP reports the following income statement. table

L011-2 M11-11. Forecast an Income Statement ADP reports the following income statement.
\table[[AUTOMATIC DATA PROCESSING INC. Statement of Consolidated Earnings ($ millions) For Year Ended June 30,2019],[Total revenues,$14,175.2],[Operating expenses,7,145.9],[Systems development and programming costs,636.3],[Depreciation and amortization,304.4],[Total cost of revenues,8,086.6],[Selling, general, and administrative expenses,3,064.2],[Interest expense,129.9],[Total expenses,11,280.7],[Other (income) expense, net,(111.1)],[Earnings before income taxes,3,005.6],[Provision for incorne taxes,712.8],[Net earnings,$ 2,292.8]]
Forecast ADP's 2020 income statement assuming the following income statement relations. All percentages (other than total revenue growth and provision for income taxes) are based on the historic percent of total revenues.
Total revenues growth.
13%
Depreciation and amortization
$460.5 million
Interest expense
No change
Other (income) expense, net
No change
Income tax rate 25%
L 0 1 1 - 2 M 1 1 - 1 1 . Forecast an Income

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