Microsoft Corporation
Consolidated Statement of Earnings
Year Ended June 30, 1997
(In millions)
(unaudited)
 |
| Revenue |
$15,518 |
| Operating expenses: |
|
| Cost of revenue |
1,482 |
| Research and development |
2,630 |
| Sales and marketing |
3,902 |
| General and administrative |
495 |
|
| Total operating expenses |
8,509 |
|
| Operating income |
7,009 |
| Interest income |
605 |
| Other expenses |
(354) |
|
| Income before income taxes |
7,260 |
| Provision for income taxes |
1,459 |
|
| Net income |
5,801 |
| Preferred stock dividends |
20 |
|
| Net income available for common shareholders |
$ 5,781 |
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Reconciliation to results presented in accompanying financial statements: |
|
| Net income-Canadian GAAP |
$ 5,781 |
| Tax benefit of stock options |
(1,082) |
|
| Net income-US GAAP |
$ 4,699 |
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This unaudited Consolidated Statement of Earnings has been converted from Microsoft's audited consolidated income statement into Canadian currency and adjusted for accounting principles and
format that are generally accepted in Canada. This presentation differs in certain respects from generally accepted accounting principles in the United States that are used in Microsoft's primary financial statements and its filings with the
United States Securities and Exchange Commission. The Microsoft 1997 Annual Report to Shareholders and the Form 10-K are available on this Web site or copies may be obtained by writing to the Company.
Translated at the average exchange rate for the year (C$1 = US $0.7319).
View Microsoft income statements presented in these local languages, currencies, and accounting conventions:
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