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$ 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
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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k t nces W 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 Required 1 Professional services and other revenues 1,162 Other income 1,716 Marketing and sales expense 699 Research and development expense 16,169 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? Complete this question by entering your answers in the tabs below. < Prev Required 2 Recognizing 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, INCORPORATED Consolidated Statement of Income $ 1,180 367 7,942 2,778 1 of 4 # Next >
Transcribed Image Text:k t nces W 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 Required 1 Professional services and other revenues 1,162 Other income 1,716 Marketing and sales expense 699 Research and development expense 16,169 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? Complete this question by entering your answers in the tabs below. < Prev Required 2 Recognizing 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, INCORPORATED Consolidated Statement of Income $ 1,180 367 7,942 2,778 1 of 4 # Next >
Net revenues: Professional services and other revenues Subscription and support revenues Total net revenue Cost of sales: Cost of subscription and support revenues Cost of professional services and other revenues Total cost of revenues Gross profit Operating expenses: General and administrative expense SALESWARE.COM, INCORPORATED Consolidated Statement of Income For Year Ended January 31, Current Year (In millions, except per share amounts) Marketing and sales expense Research and development expense Total operating expenses Operating income Other income Show Transcribed Text hapter 05 Total cost of revenues Gross profit Operating expenses: General and administrative expense Marketing and sales expense Research and development expense Total operating expenses Operating income Other income Income tax expense Net income Earnings per share Weighted average shares outstanding < Prev S $ Saved Required 1 1,180 16,169 3,269 1,162 1 of 4 ⠀ 1,716 7,942 2,778 1,716 7,942 2,778 $ 17,349 $ 4,431 12,918 12,436 $ 367 Next > 4,431 $ 12,918 12,436 367 699 0.18 Required 2 900
Transcribed Image Text:Net revenues: Professional services and other revenues Subscription and support revenues Total net revenue Cost of sales: Cost of subscription and support revenues Cost of professional services and other revenues Total cost of revenues Gross profit Operating expenses: General and administrative expense SALESWARE.COM, INCORPORATED Consolidated Statement of Income For Year Ended January 31, Current Year (In millions, except per share amounts) Marketing and sales expense Research and development expense Total operating expenses Operating income Other income Show Transcribed Text hapter 05 Total cost of revenues Gross profit Operating expenses: General and administrative expense Marketing and sales expense Research and development expense Total operating expenses Operating income Other income Income tax expense Net income Earnings per share Weighted average shares outstanding < Prev S $ Saved Required 1 1,180 16,169 3,269 1,162 1 of 4 ⠀ 1,716 7,942 2,778 1,716 7,942 2,778 $ 17,349 $ 4,431 12,918 12,436 $ 367 Next > 4,431 $ 12,918 12,436 367 699 0.18 Required 2 900
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