Question

Forecast Income Statement and Balance Sheet Following are the income statement and balance sheet for Medtronic PLC. April 26, 2019 $30,557 9,155 2,330 10,418 1,764 Consolidated Statement of Income, 12 Months Ended ($ 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 198 166 258 6,268 373 1,444 5,197 547 Net income 4,650 19 Net income attributable to noncontrolling interests Net income attributable to Medtronic $ 4,631

Answer 1

Net sale 33002 Less expenses.... 9900 1.. coat of good sold 2. Research and development expenses 2508 3.. selling and distribution expense 11254 4.. amortization of intangible 1914 5. restructuring exp 149 6.. litigation exp 150 7.. other operating exp 258 8..int exp 1444 Profit before tax 5425 9.. tax expense 814 Profit after tax 4611 1.. attribute to nci 19 2.. attribute to Medtronic 4592 .. based on forecast. That to anticipated by co..so accordingly.. forecast stmt of p&l made..

Liabilities Amount Asset Amount Current debt 838 A/c receivable 6732 A/c payable 2112 Inventory 4059 2376 Other ca 2310 Accured compensation Accured it 627 Goodwill 39959 Accured expenses 3069 Tax asset 1650 1651 Other asset 1089 Accured compensation. On retirement Dti 1386 3725 Ppe (4675-950) # less cy dep Other liab 825 18619 Other intangible (20560-1914)# less amortization exp Long term debt 24486 6151 Cash ( 4393-2853+4611#cy profit) Total liabilities 37370 Invst 5455 Ordinary share 26532 Reserves Opening. 26270 Dividend (2853) During the yr 4611 Attribute to nci (140) Accumulated OCI(2711) Capex reserve 697 25874 Total 89776 89766 • Any changes in items ..., which is changed ACC to sales..so that % criteria apply to the sale of cy • For ex.. a/c receivable.. is given 20.39% of sale..so accordingly (33002*20.39%)..ad so on . Dividend paid less from reserved ad from cash bal

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