EDGAR, the electronic data gathering, analysis, and retrieval system, performs automated collection, validating, indexting, and forwarding of submissions by companies and others who are required by law to file forms with the U.S. securities and exchange commission (SEC). All publicly traded domestic companies use EDGAR to make the majority of their filings. (some foreign companies file voluntarily.) Form 10-K, which includes the annual report, is required to be filed on EDGAR. The SEC makes this information available on internet.

1. Access EDGAR on the internet. The web address is www.sec.gov 2. Search for the most recent 10-K's of Orbitz and priceline.com. Search or scroll to find the revenue recognition note in the financial statements. 3. For each of the following types of revenue, indicate whether the amount shown in the income statement is "net" or "gross" (the terms used with respect to revenue recognition in the chapter), and briefly explain answer. a. Orbitz's "merchant model" revenues b. Orbitz's "retail model" revenues c. Priceline.com's "merchant revenues for 'Name Your Own Price' services" d. Priceline.com's "merchant retail services" e. Priceline.com's agency revenues 4. Consider your responses to 3a through 3e. Does it look like there is the potential for noncompariability when readers consider Orbitz and priceline.com? Indicate yes or no and briefly explain your answer