Attached please find Income Statement, Balance Sheet, and Footnote 7 on Equity Method Investments from Coke's 2019 Annual Report. Coke's equity BV includes 8,679 GW. Answer the following questions.

1. What is Coke's weighted average ownership % in its equity investments?

2. Calculate Coke's ratio of Long-term debt to total assets.

3. Recalculate the ratio in #2 if Coke had to consolidate the equity method investments. Use partial consolidation.

4. Redo #3 with full consolidation.

5. Redo #4 assuming that Coke buys an additional $1,000 of the subs' existing equity BV (i.e., not a new issue and pays $1,000 cash.

THE COCA-COLA COMPANY AND SUBSIDXARIES CONSOLIDATTD STATEMENTS OF INCOME (in mitlions except per share data) THIE, COCA-COLA COMPANY AND SUBSIIARIES CONSOLIDATED BALANCE SHEETS (In rillions except par value) NOTE 7: RQUTY METHOD INVESTMENTS Our consolidated net income includes our Company's proportionate shars of the net income or loss of our equity method investees. When we record ouc proportionate sharo of net incomo, it increases equity income (loss) .n net in our consolidated statement of income and our carrying value in that investment. Conversely, when we record our proportionate share of a net loss, it decreases equity income (loss) - net in our consolidated statements of income and our carrying value in that lnvestment, The Company's proportionate stare of the net income or loss of our equity method investees includes significant operating and nonoperating items recorded by our equity method investees. These ifems can have \& signifioant inpact on the amount of equity ineoms (loss) - net in our consolidated statement of income aud our carrying value in those investments. Refer to Nole 19 for additional information related to significant cpurating and nonioperating items recorded by our equity metlod investees. The canying values of our equity method investments aro also impaoted by our proportionate shere of itoms impacling the equity investee's AOCl. We eliminato from our financial results all significent intercompany fransactions to tho extent of our ownership interest, including the intcrcompany portion of trensactions with eqpuity mathod investees. The Company's equity method investments inciude, brt are not limited to, our ownership interests in Coca-Cola Europteat Parincrs plo ("CCEp"), Monster, AC Bebidaa, Caca-Cola FEMSA, Coca-Cola HBC AG ("Cocs-Cola Hellenie') and Coob-Cole Bolleers Japan Holdings Inc. ("CCBJI(1"), As of December 31, 2019 , we owhed neproximately 19 percent, 19 percent, 20 percent, 28 percent, 23 percent and 19 percent, respectively, of these companies' ouftotanding elsares. As of December 31,2019 , our investments in our equity method investees in the aggregate oxceeded our proportionate shate of the nat assets of these equity method investees by $8,679 million. This difference is not amortized. A summary of financial information for our equity method investcos in the ageregate is as follows (in millions): Net sales to ejeity method investees, the majority of which aro located cutside tho lnited States, were $4,832 million, $14,799 million and $14,144 million in 2019,2018 and 2017 , respectively. Total paynents, primarily marketing, inade to cquity method investees were $97 million, $1,131 million and $930 million in 2019,2018 and 2017, respectively. The deorase in payments mado to equily method investees in 2019 was primarily due to changes in bottler funting arrangements. In addition, purchases of beverage produots from equity method investees were $426 million, $536 million and $1,299 million in 2019,2018 and 2017, respectively, The decrease in antehases of beverage products in 2019 and 2018 was primarily due to reduced purchases of Monster producls as a result of the North America rofanchising aotivities. Refor to Nots 2 , Tha following table presents the difference between ealeulated fair values, based on quoted closing prices of publicly traded shares, and our Company's canrying value in investments in publicly traded compenies accounted for under the equity nethod (in miltions): Nat Receivables whd Dividents fom Equity Aethad Luvestees Total net recelvables due from equity method investees were $1,707 million and $1,564 million as of December 31,2019 and 2018 , tesinectively. The tolal amount of dividends received from equity method investees was $628 million, $551 million and $443 mittion tor tho years cndedDeccmber 31,2019,2018 and 2017 , tespectively. Tho anount of consolidated reinvested eamings that represents andistribited earnigg of investments accounted for under tho cesity method as of December 31,2019 was $4,983 mllion. THE COCA-COLA COMPANY AND SUBSIDXARIES CONSOLIDATTD STATEMENTS OF INCOME (in mitlions except per share data) THIE, COCA-COLA COMPANY AND SUBSIIARIES CONSOLIDATED BALANCE SHEETS (In rillions except par value) NOTE 7: RQUTY METHOD INVESTMENTS Our consolidated net income includes our Company's proportionate shars of the net income or loss of our equity method investees. When we record ouc proportionate sharo of net incomo, it increases equity income (loss) .n net in our consolidated statement of income and our carrying value in that investment. Conversely, when we record our proportionate share of a net loss, it decreases equity income (loss) - net in our consolidated statements of income and our carrying value in that lnvestment, The Company's proportionate stare of the net income or loss of our equity method investees includes significant operating and nonoperating items recorded by our equity method investees. These ifems can have \& signifioant inpact on the amount of equity ineoms (loss) - net in our consolidated statement of income aud our carrying value in those investments. Refer to Nole 19 for additional information related to significant cpurating and nonioperating items recorded by our equity metlod investees. The canying values of our equity method investments aro also impaoted by our proportionate shere of itoms impacling the equity investee's AOCl. We eliminato from our financial results all significent intercompany fransactions to tho extent of our ownership interest, including the intcrcompany portion of trensactions with eqpuity mathod investees. The Company's equity method investments inciude, brt are not limited to, our ownership interests in Coca-Cola Europteat Parincrs plo ("CCEp"), Monster, AC Bebidaa, Caca-Cola FEMSA, Coca-Cola HBC AG ("Cocs-Cola Hellenie') and Coob-Cole Bolleers Japan Holdings Inc. ("CCBJI(1"), As of December 31, 2019 , we owhed neproximately 19 percent, 19 percent, 20 percent, 28 percent, 23 percent and 19 percent, respectively, of these companies' ouftotanding elsares. As of December 31,2019 , our investments in our equity method investees in the aggregate oxceeded our proportionate shate of the nat assets of these equity method investees by $8,679 million. This difference is not amortized. A summary of financial information for our equity method investcos in the ageregate is as follows (in millions): Net sales to ejeity method investees, the majority of which aro located cutside tho lnited States, were $4,832 million, $14,799 million and $14,144 million in 2019,2018 and 2017 , respectively. Total paynents, primarily marketing, inade to cquity method investees were $97 million, $1,131 million and $930 million in 2019,2018 and 2017, respectively. The deorase in payments mado to equily method investees in 2019 was primarily due to changes in bottler funting arrangements. In addition, purchases of beverage produots from equity method investees were $426 million, $536 million and $1,299 million in 2019,2018 and 2017, respectively, The decrease in antehases of beverage products in 2019 and 2018 was primarily due to reduced purchases of Monster producls as a result of the North America rofanchising aotivities. Refor to Nots 2 , Tha following table presents the difference between ealeulated fair values, based on quoted closing prices of publicly traded shares, and our Company's canrying value in investments in publicly traded compenies accounted for under the equity nethod (in miltions): Nat Receivables whd Dividents fom Equity Aethad Luvestees Total net recelvables due from equity method investees were $1,707 million and $1,564 million as of December 31,2019 and 2018 , tesinectively. The tolal amount of dividends received from equity method investees was $628 million, $551 million and $443 mittion tor tho years cndedDeccmber 31,2019,2018 and 2017 , tespectively. Tho anount of consolidated reinvested eamings that represents andistribited earnigg of investments accounted for under tho cesity method as of December 31,2019 was $4,983 mllion