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Actual Statements of Net Earnings
Microsoft Corp (MSFT)
(Dollars and Shares in Millions, Except Per Share Amounts)

 Actual
 12 Months
06/30/03
   12 Months
06/30/04
   12 Months
06/30/05
  
 
Net Sales$32,187  $36,835  $39,788 
Operating Expenses22,642  27,801  25,227 
   
Operating Earnings9,545  9,034  14,561 
 29.7%  24.5%  36.6% 
   
Other Income (Expense):   
Historical Interest Expense0  0  0 
Other Income (Expense)1,509  3,162  2,067 
 1,509  3,162  2,067 
   
Earnings Before Income Tax11,054  12,196  16,628 
Provision (Credit) For Income Tax3,523  4,028  4,374 
   
Net Earnings$7,531  $8,168  $12,254 
   
Dividends$857  $1,729  $36,112 
Common Shares Outstanding (Fully Diluted)10,882  10,894  10,906