ch3 - ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA-...

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ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA- Microsoft INCOME STATEMENTS (In millions, except per share amounts) Year Ended June 30 2006 2005 2004 Revenue $44,282 $39,788 $36,835 Operating expenses: Cost of revenue 7,650 6,031 6,596 Research and development 6,584 6,097 7,735 Sales and marketing 9,818 8,563 8,195 General and administrative 3,758 4,536 5,275 Total operating expenses 27,810 25,227 27,801 Operating income 16,472 14,561 9,034 Investment income and other 1,790 2,067 3,162 Income before income taxes 18,262 16,628 12,196 Provision for income taxes 5,663 4,374 4,028 Net income $12,599 $12,254 $ 8,168 Earnings per share: Basic $ 1.21 $ 1.13 $ 0.76 Diluted $ 1.20 $ 1.12 $ 0.75 Weighted average shares outstanding: Basic 10,438 10,839 10,803 Diluted 10,531 10,906 10,894 Cash dividends declared per common share $ 0.35 $ 3.40 $ 0.16 See accompanying notes.
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BALANCE SHEETS (In millions) June 30 2006 2005 Assets Current assets: Cash and equivalents $ 6,714 $ 4,851 Short-term investments (including securities pledged as collateral of $3,065 and $-) 27,447 32,900 Total cash and short-term investments 34,161 37,751 Accounts receivable, net of allowance for doubtful accounts of $142 and $171 9,316 7,180 Inventories, net 1,478 491
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ch3 - ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA-...

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