In February 2016, US GAAP issued ASU 2016- 02, Leases (Topic 842). In one of the articles that you read to prepare for our lease discussion, Microsoft mentioned that they were considering early implementation of the lease standard. Did they early implement and if they did, what was the impact on the financial statements. (Hint: You will find the quarterly reports for Microsoft on their website at the bottom in Investors which is under Company. The first quarterly financials for the year will show the impact.)

Please look up quarterly reports online. Thank you.