Challenge

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) shares in Millions, $ in Millions	Sep. 25, 2020	Dec. 31, 2019
Accounts Receivable, Allowance for Credit Loss, Current	$ 546	$ 524
Property, Plant, and Equipment, Owned, Accumulated Depreciation	$ 8,877	$ 8,083
Common Stock, Par or Stated Value Per Share	$ 0.25	$ 0.25
Common Stock, Shares Authorized	11,200	11,200
Common Stock, Shares, Issued	7,040	7,040
Treasury Stock, Shares	2,743	2,760
CURRENT ASSETS
Cash and cash equivalents	$ 11,385	$ 6,480
Short-term investments	7,347	1,467
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	18,732	7,947
Marketable Securities	2,396	3,228
Trade accounts receivable, less allowances of $546 and $524, respectively	3,827	3,971
Inventories	3,264	3,379
Prepaid expenses and other assets	2,191	1,886
TOTAL CURRENT ASSETS	30,410	20,411
EQUITY METHOD INVESTMENTS	18,875	19,025
OTHER INVESTMENTS	712	854
OTHER ASSETS	6,161	6,075
Deferred Income Tax Assets, Net	2,439	2,412
Property, plant and equipment, less accumulated depreciation of $8,877 and $8,083, respectively	10,667	10,838
TRADEMARKS WITH INDEFINITE LIVES	10,333	9,266
GOODWILL	16,887	16,764
OTHER INTANGIBLE ASSETS	700	736
TOTAL ASSETS	97,184	86,381
CURRENT LIABILITIES
Accounts payable and accrued expenses	12,750	11,312
Notes and Loans Payable	5,857	10,994
Current maturities of long-term debt	7,508	4,253
Accrued income taxes	776	414
TOTAL CURRENT LIABILITIES	26,891	26,973
LONG-TERM DEBT	39,502	27,516
OTHER LIABILITIES	8,530	8,510
Deferred Income Tax Liabilities, Net	1,945	2,284
THE COCA-COLA COMPANY SHAREOWNERS' EQUITY
Common stock, $0.25 par value; authorized 11,200 shares; issued 7,040 shares	1,760	1,760
Capital surplus	17,463	17,154
Reinvested earnings	66,863	65,855
Accumulated other comprehensive income (loss)	(15,446)	(13,544)
Treasury stock, at cost 2,743 and 2,760 shares, respectively	(52,033)	(52,244)
EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY	18,607	18,981
EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS	1,709	2,117
TOTAL EQUITY	20,316	21,098
TOTAL LIABILITIES AND EQUITY	$ 97,184	$ 86,381

• Step 1: Calculate the financial worth of Coca-Cola based on four approaches:
  • (1) the net worth method,
  • (2) the net income method,
  • (3) the price-earnings ration method, and
  • (4) the outstanding shares method.
• Step 2: Get an average of the four methods. In a dollar amount, how much is Coca-Cola worth?