Please Explain Proper Step by Step and Do Not Give Solution In Image Format And Fast Answering Please And Thanks In Advance ktncesWSalesware.com, Incorporated, is a leading provider of enterprise software, delivered through the cloud, with a focus oncustomer relationship management, or CRM. The Company helps its customers to connect with their customers throughcloud, mobile, social, blockchain, voice, advanced analytics, and artificial intelligence ("AI") technologies. Presentedbelow are the items adapted from its recent income statement for the year ended January 31 (in millions, except pershare amounts). Net earnings per share was $0.18, and the weighted-average shares used in the computation were 841million.Cost of subscription and supportrevenuesCost of professional services and otherrevenuesGeneral and administrative expenseIncome tax expenseSubscription and support revenues$ 3,269Required 1Professional services and otherrevenues1,162 Other income1,716 Marketing and sales expense699 Research and development expense16,169Required:1. Recognizing that Salesware has two sources of operating revenues, prepare a classified (multiple-step) incomestatement.2. Which source of operating revenues produces the higher gross profit?Complete this question by entering your answers in the tabs below.< PrevRequired 2Recognizing that Salesware has two sources of operating revenues, prepare a classified (multiple-step) income statement.Note: Enter your answers in millions (i.e., 10,000,000 should be entered as 10).SALESWARE.COM, INCORPORATEDConsolidated Statement of Income$ 1,1803677,9422,7781 of 4 #Next > Net revenues:Professional services and other revenuesSubscription and support revenuesTotal net revenueCost of sales:Cost of subscription and support revenuesCost of professional services and other revenuesTotal cost of revenuesGross profitOperating expenses:General and administrative expenseSALESWARE.COM, INCORPORATEDConsolidated Statement of IncomeFor Year Ended January 31, Current Year(In millions, except per share amounts)Marketing and sales expenseResearch and development expenseTotal operating expensesOperating incomeOther incomeShow Transcribed Texthapter 05Total cost of revenuesGross profitOperating expenses:General and administrative expenseMarketing and sales expenseResearch and development expenseTotal operating expensesOperating incomeOther incomeIncome tax expenseNet incomeEarnings per shareWeighted average shares outstanding< PrevS$SavedRequired 11,18016,1693,2691,1621 of 4 ⠀1,7167,9422,7781,7167,9422,778$ 17,349$4,43112,91812,436$367Next >4,431$ 12,91812,4363676990.18Required 2900

1. SALESWARE. COM, INCORPORATED Consolidated Statement of Income For the Year…

$ Salesware.com, Incorporated, is a leading provider of enterprise software, delivered through the cloud, with a focus on customer relationship management, or CRM. The Company helps its customers to connect with their customers through cloud, mobile, social, blockchain, voice, advanced analytics, and artificial intelligence ("AI") technologies. Presented below are the items adapted from its recent income statement for the year ended January 31 (in millions, except per share amounts). Net earnings per share was $0.18, and the weighted-average shares used in the computation were 841 million. Cost of subscription and support revenues Cost of professional services and other revenues General and administrative expense Income tax expense Subscription and support revenues $3,269 Professional services and other revenues 1,162 Other income 1,716 Marketing and sales expense 699 Research and development expense 16,169 $ 1,180 367 7,942 2,778 Required: 1. Recognizing that Salesware has two sources of operating revenues, prepare a classified (multiple-step) income statement. 2. Which source of operating revenues produces the higher gross profit?

$ Salesware.com, Incorporated, is a leading provider of enterprise software, delivered through the cloud, with a focus on customer relationship management, or CRM. The Company helps its customers to connect with their customers through cloud, mobile, social, blockchain, voice, advanced analytics, and artificial intelligence ("AI") technologies. Presented below are the items adapted from its recent income statement for the year ended January 31 (in millions, except per share amounts). Net earnings per share was $0.18, and the weighted-average shares used in the computation were 841 million. Cost of subscription and support revenues Cost of professional services and other revenues General and administrative expense Income tax expense Subscription and support revenues $3,269 Professional services and other revenues 1,162 Other income 1,716 Marketing and sales expense 699 Research and development expense 16,169 $ 1,180 367 7,942 2,778 Required: 1. Recognizing that Salesware has two sources of operating revenues, prepare a classified (multiple-step) income statement. 2. Which source of operating revenues produces the higher gross profit?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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