Return to question 4. 2.5 points Vaper Software provides business analytics software products, including Vaper Desktop, Vaper Server, and Vaper Online. It is considered a leader in the data analytics/business intelligence movement. However, Vaper doesn't just license its products for use by others. It also provides maintenance, support, training, and professional services to various customers. As a consequence, its income statement shows two sources of operating revenues (product licenses/maintenance and services) and two related costs of goods/services provided to customers. Presented below are the items adapted from its recent income statement for the year ended December 31 (in thousands, except per share amounts). Net earings per share were minus $2.35, which would normally be noted as ($2.35), and the weighted average shares used in the computation was 78,904. Coet of licenses Cort of maintenance and services General and administrative expense Income tax expense Liman ve $ 13,560 100,060 102,910 6,890 429,240 Maintenance and services revenue Other incone Sales and marketing expense Research and development expense $4,890 12,300 512,480 334,180 Required: 1. Recognizing that Vaper has two sources of operating revenues, prepare a classified (multiple step) income statement. 2. Which source of operating revenues produces the higher gross profit? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Recognizing that Vaper has two sources of operating revenues, prepare a classified income statement. (Enter all losses with a minus sign. Enter your answers in thousands.) VAPER SOFTWARE Consolidated Statement of income For Year Ended December 31, Current Year In millions) Net revenues License revenue $429,240 Maintenance and services revenue 447,890 S 877.130 Tolal nal revenue Cost of sales Mc Return to que 4 (in millions) Net revenues: License revenue Maintenance and services revenue S429,240 447,890 2.5 points Total at revenue S 877,130 Cast of sales: Cost of licenses Cost of maintenance and services 13,560 100,000 113,620 763,510 Total cost of sales Gross pront Operating expenses General and administrative expens Income tax expense Sales and marketing expense Research and development expense x 102,910 6,890 517,400 334,180 Total operating expenses Operating income Other income, nel x 961,460 (197.950) 12,300 Income before income taxes x x Provision for taxes 6,890 Required 1 Required 2 >