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calculate 2019 net operating working capital. assume that all cash is excess cash Other Data 2019 4,268M Ordinary Shares Outstanding (M) Market Price $53.30 Tax

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Other Data 2019 4,268M Ordinary Shares Outstanding (M) Market Price $53.30 Tax Rate 21.20% WACC (After-tax % cost of capital) 5.0% 2019 37,266 Coca-Cola Company 12/31 Net sales (in millions) Operating Cost (exc. Depr.) Depreciation expense Operating Income 25,368 1365 10,533 Interest income 253 Earnings before taxes 10,786 Income taxes 1,801 Net income 8,985 2019 2018 Assets: (in Millions) Cash and marketable securities Accounts receivable Inventories Prepaid expenses Total current assets Net fixed assets $11,175 $15,964 $3,971 $3,396 3,379 2,766 1,886 8,508 $20,411 $30,634 $10,838 $8,232 $55,132 $44,350 $86,381 $83,216 Other assets Total assets Liabilities and Equity: Accounts payable $10,705 $8,416 Notes payable 15,247 18,191 Other Current Liabilities 1,021 2616 Total current liabilities $26,973 $29,223 Long-term debt 38,310 34,935 Owner's equity 21,098 19,058 Total liabilities and owner's equity $86,381 $83,216

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