MICROSOFT CORP. Income Statement June 30, 2016 (in millions) Revenue Open in Acrobat Product $61,502 Service 23,818 Total revenue 85,320 17,880 14.900 32.780 52,540 11,988 14,697 4,563 Cost of revenue Product Service and other Total cost of revenue Gross margin Research and development Sales and marketing General and administrative Impairment, integration, and restructuring Operating income Other income (expense) Interest income Gains on investments Interest expense Losses on derivatives and other nonoperating expenses Income before taxes 1.110 20,182 903 668 (1,243) (759) 19,751 Provision for income taxes 2.953 Net income $16.798 Use the income statement for Microsoft Corporation to compute the following: MICROSOFT CORP.pdf a. Tax shield b. The tax on operating profit C. NOPAT The company's combined federal and state statutory tax rate is 37.0%