Refer to PepsiCo (www.pepsico.com), Inc. and examine the statement of cash flows to answer the following questions:
A. Is this statement prepared on the direct or indirect basis? How can you tell?
B. Are net cash flows from operating activities greater than or less than net income?

C. What is shown on the statement of cash flows regarding changes in current operating assets during the period?
D. What is shown on the statement of cash flows regarding changes in current operating liabilities during the period?
E. How much cash did the company pay for interest during the period? Where did you find this information?
F. How does the company define cash equivalents? Where did you find this information?
G. How much cash did the company pay for income taxes during the period? Where did you find this information?
H. What were the principal investing events during the year?
I. What were the principal financing events during the year?
J. Did the company report any noncash investing/financing events during the year? If so, where did you find this information?
K. If you were an investor, would you be interested in this company? Why or why not?