Compare and contrast the performance of PEPSI for the 2019 year using the DuPont disaggregation of return on equity (RoE) and return on net operating assets (RNOA). For any income tax adjustments, assume a tax rate of 21%.

Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 28, 2019, December 29, 2018 and December 30, 2017 (in millions except per share amounts) 2019 2018 Net Revenue $ 67,161 $ 64,661 $ Cost of sales 30,132 29,381 Gross profit 37,029 35,280 Selling, general and administrative expenses 26,738 25,170 Operating Profit 10,291 10,110 Other pension and retiree medical benefits (expense)/income (44) 298 Interest expense (1,135) (1,525) Interest income and other 200 306 Income before income taxes 9,312 9,189 Provision for/(benefit from) income taxes (See Note 5) 1,959 (3,370) Net income 7,353 12,559 Less: Net income attributable to noncontrolling interests 39 Net Income Attributable to PepsiCo $ 7,314 $ 12.515 $ Net Income Attributable to PepsiCo per Common Share Basic $ 5.23 $ 8.84 $ Diluted $ 5.20 $ 8.78 $ Weighted average common shares outstanding Basic 1,399 1,415 Diluted 1,407 1,425 2017 63,525 28.796 34,729 24,453 10,276 233 (1,151) 244 9,602 4,694 4,908 51 4,857 3.40 3.38 1,425 1,438 2017 4,908 Consolidated Statement of Comprehensive Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 28, 2019, December 29, 2018 and December 30, 2017 (in Millions) 2019 2018 Net income $ 7,353 $ 12,559 $ Other comprehensive income/(loss), net of taxes: Net currency translation adjustment 628 (1,641) Net change on cash flow hedges (90) Net pension and retiree medical adjustments 283 (467) Net change on available for sale securities (2) Other (2,062) Comprehensive income 8,172 10,497 Comprehensive income attributable to noncontrolling interests Comprehensive Income Attributable to PepsiCo $ 8,133 $ 10,453 $ 40 6 1,109 (36) (159) (68) 16 862 5,770 (51) 5,719 819 (39) Consolidated Balance Sheet PepsiCo, inc. and Subsidiaries December 28, 2019 and December 29, 2018 fin millions except per shore amounts) 2019 2018 $ 5,509 $ 229 ASSETS Current Assets Cash and cash equivalents Short term investments Restricted cash Accounts and notes receivable, net Inventories Prepaid expenses and other current assets Total Current Assets Property, Plant and Equipment, net Amortizable Intangible Assets, net Goodwill Other indefinite lived intangible assets Indefinite-Lived Intangible Assets Investments in Noncontrolled Affiliates Deferred Income Taxes Other Assets Total Assets 8,721 272 1,997 7,142 3,128 633 21,893 7,822 3,338 747 17,645 19,305 15,501 14,510 30.111 2,583 4,359 3,011 78,547 $ 17,589 1,544 14,808 14,181 28,959 2,409 780 77.648 $ 2.920 $ 17 541 20,451 29,145 4,091 18,112 22,138 28,295 3,499 9,114 9,979 63,679 LIABILITIES AND EQUITY Current Liabilities Short-term debt obligations Accounts payable and other current liabilities Total Current Liabilities Long-Term Debt Obligations Deferred Income Taxes Other Liabilities Total Liabilities Commitments and contingencies PepsiCo Common Shareholders' Equity Common stock, par value 12/30 per share (authorized 3,600 shares; issued, net of repurchased common stock at par value: 1,391 and 1,409 shares, respectively) Capital in excess of par value Retained earnings Accumulated other comprehensive loss Repurchased common stock, in excess of par value (476 and 458 shares, respectively) Total PepsiCo Common Shareholders' Equity Noncontrolling interests Total Equity Total Liabilities and Equity 23 3,953 59,947 (15,119) 3,886 61.946 (14,3001 35,769) 14,785 82 14,868 78,547 $ 14,518 14,602 77,548 $