Please answer everything highlighted in yellow.

Please answer everything highlighted in yellow.

Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. Consolidated Statement of Income, 12 Months Ended ($ millions) April 26, 2019 Net Sales $30,557 Costs and expenses Cost of products sold 9,155 Research and development expense 2,330 Selling, general, and administrative expense 10,418 Amortization of intangible assets 1,764 Restructuring charges, net 198 Certain litigation charges Other operating expense, net Operating profit 6,268 Other nonoperating income, net 373 Interest expense 1,444 Income before income taxes 5,197 Income tax provision Net income 4,650 Net income attributable to noncontrolling interests Net income attributable to Medtronic $ 4,631 166 258 547 19 April 26, 2019 $4,393 5,455 6,222 3,753 2,144 21,967 4,675 39,959 20,560 1,519 1,014 $89,694 $838 1,953 2,189 Consolidated Balance Sheet ($ millions) Current assets Cash and cash equivalents Investments Accounts receivable, less allowances of $190 Inventories, net Other current assets Total current assets Property, plant, and equipment, net Goodwill Other intangible assets, net Tax assets Other assets Total assets Current liabilities Current debt obligations Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Total current liabilities Long-term debt Accrued compensation and retirement benefits Accrued income taxes Deferred tax liabilities Other liabilities Total liabilities Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and shareholders' equity 567 2,925 8,472 24,486 1,651 2,838 1,278 757 39,482 0 26,532 26,270 (2,711) 50,091 121 50,212 $89,694 Use the following assumptions to prepare a forecast of the company's income statement for fiscal year 2020. Net sales increase 896 Cost of product sold 30.0% of net sales Research and development expense 7.6% of net sales Selling general, and administrative expense 34.196 of net sales Amortization of intangible assets 5.8% of net sales Restructuring charges, net 75% of 2019 expense Certain litigation charges $150 million Other operating expense, net No change Interest expense No change Income tax provision 15% of pre-tax income Income to noncontrolling interests No change Round answers to the nearest whole number. Do not use negative signs with any of your answers. April 2020 $ 33,002 6,408 x 2,508 11,254 1,914 149 Consolidated Statement of Income, 12 Months Ended ($ millions) Net Sales Costs and expenses Cost of products sold Research and development expense Selling, general, and administrative expense Amortization of intangible assets Restructuring charges, net Certain litigation charges Other operating expense, net Operating profit Other nonoperating income, net Interest expense Income before income taxes Income tax provision Net income Net income attributable to noncontrolling interests Net income attributable to Medtronic 150 258 6,268 x 373 1,444 5,425 x 814 X 4,611 X 19 $ 4,592 x Use the following assumptions to prepare a forecast of the company's balance sheet for fiscal year 2020. Accounts receivable, less allowances 20.4% of net sales Inventories, net 12.3% of net sales Other current assets 7% of net sales Goodwill No change Tax assets 5% of net sales Other assets 3.3% of net sales Accounts payable 6.4% of net sales Accrued compensation (current liability) 7.2% of net sales Accrued income taxes (current liability) 1.9% of net sales Accrued income taxes (noncurrent liability) 9.3% of net sales Other accrued expenses 9.6% of net sales Accrued compensation and retirement benefits (noncurrent liability) No change Deferred tax liabilities 4.2% of net sales Other liabilities 2.5% of net sales Ordinary shares No change Accumulated other comprehensive loss No change Net income attributable to noncontrolling interest $19 million Dividends in FY2020 $2,853 million CAPEX in FY2019, forecast CAPEX at historic 96 of net sales $1,134 million Depreciation expense in FY2020 $950 million Amortization expense in FY2020 $1,914 million Debt due in FY2020 5838 million Debt due in FY2021 $2,058 million Round answers to the nearest whole number. Use a negative sign with your Accumulated other comprehensive loss answer. April 2020 $ 4,393 x 5,455 6,222 x 3,753 x 2,144 x 21,967 x 4,675 x 39,959 20,560 x 1,519 X 1,014 X 89,694 x $ $ 838 x 1,953 x 2,189 X Consolidated Balance Sheet ($ millions) Current assets Cash and cash equivalents Investments Accounts receivable, less allowances of $190 Inventories, net Other current assets Total current assets Property, plant, and equipment, net Goodwill Other intangible assets, net Tax assets Other assets Total assets Current liabilities Current debt obligations Accounts payable Accrued compensation Accrued income taxes Other accrued expenses Total current liabilities Long-term debt Accrued compensation and retirement benefits Accrued income taxes Deferred tax liabilities Other liabilities Total liabilities Shareholders' equity Ordinary shares Additional paid-in capital Retained earnings Accumulated other comprehensive loss Total shareholders' equity Noncontrolling interests Total equity Total liabilities and shareholders' equity 567 X 2,925 x 8,472 X 24,486 x 1,651 2,838 X 1,278 X 757 X 39,482 X 0 26,532 26,270 X (2.711) 50,091 x 121 X 50,212 x $ 89,694 X