At the end of 2004, PepsiCo had total assets of \(\$ 28\) billion and total liabilities of \(\$ 14\) billion. Included among the assets were property, plant, and equipment with a cost of \(\$ 16\) billion and accumulated depreciation of \(\$ 8\) billion. During 2004, PepsiCo earned total revenues of \(\$ 29\) billion and had total expenses of \(\$ 25\) billion.

Requirements 

1. Show how PepsiCo reported property, plant, and equipment on its balance sheet at December 31, 2004. What was the book value of property, plant, and equipment on that date?

2. How much was PepsiCo's owners' equity at December 31, 2004?

3. Did PepsiCo have net income or net loss for 2004? Compute the amount.