(d) For year end 2014, what amounts were reported by Coca Cola and PepsiCo as (1) gross deferred tax assets and (2) gross deferred tax liabilities Question The financial statements of Coca Cola and PepsiCo The financial statements of Coca Cola and PepsiCo are presented in Appendices C and D, respectively The companies' complete annual reports, including the notes to the financial statements, are available online THE COCA COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2014 2013 2012 (In millions except per share data) NET OPERATING REVENUES $45,998 $46,854 $48,017 Cost of goods sold 17,889 18,421 19,053 GROSS PROFIT 28,109 28,433 28,964 Selling, general and administrative expenses 17,218 17,310 17,738 Other operating charges 1,183 895 447 OPERATING INCOME 9,708 10,228 10,779 Interest income 594 534 471 Interest expense 483 463 397 Equity income (loss) net 769 602 819 Other income (loss) net ( 1,263 ) 576 137 INCOME BEFORE INCOME TAXES 9,325 11,477 11,809 Income taxes 2,201 2,851 2,723 CONSOLIDATED NET INCOME 7,124 8,626 9,086 Less Net income attributable to noncontrolling interests 26 42 67 NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA COLA COMPANY $7,098 $8,584 $9,019 BASIC NET INCOME PER SHARE 1 $1 62 $1 94 $2 00 DILUTED NET INCOME PER SHARE 1 $1 60 $1 90 $1 97 AVERAGE SHARES OUTSTANDING 4,387 4,434 4,504 Effect of dilutive securities 63 75 80 AVERAGE SHARES OUTSTANDING ASSUMING DILUTION 4,450 4,509 4,584 1 Calculated based on net income attributable to shareowners of The Coca Cola Company THE COCA COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Year Ended December 31, 2014 2013 2012 (In millions) CONSOLIDATED NET INCOME $7,124 $8,626 $9,086 Other comprehensive income Net foreign currency translation adjustment ( 2,382 ) (1,187) (182) Net gain (loss) on derivatives 357 151 99 Net unrealized gain (loss) on available for sale securities 714 (80) 178 Net change in pension and other benefit liabilities ( 1,039 ) 1,066 (668) TOTAL COMPREHENSIVE INCOME 4,774 8,576 8,513 Less Comprehensive income (loss) attributable to noncontrolling interests 21 39 105 TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA COLA COMPANY $4,753 $8,537 $8,408 THE COCA COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2014 2013 (In millions except par value) ASSETS CURRENT ASSETS Cash and cash equivalents $8,958 $10,414 Short term investments 9,052 6,707 TOTAL CASH, CASH EQUIVALENTS AND SHORT TERM INVESTMENTS 18,010 17,121 Marketable securities 3,665 3,147 Trade accounts receivable, less allowances of $331 and $61, respectively 4,466 4,873 Inventories 3,100 3,277 Prepaid expenses and other assets 3,066 2,886 Assets held for sale 679 TOTAL CURRENT ASSETS 32,986 31,304 EQUITY METHOD INVESTMENTS 9,947 10,393 OTHER INVESTMENTS 3,678 1,119 OTHER ASSETS 4,407 4,661 PROPERTY, PLANT AND EQUIPMENT net 14,633 14,967 TRADEMARKS WITH INDEFINITE LIVES 6,533 6,744 BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES 6,689 7,415 GOODWILL 12,100 12,312 OTHER INTANGIBLE ASSETS 1,050 1,140 TOTAL $92,023 $90,055 Pepsico, Inc is a leading global food and beverage company with a complementary portfolio of enjoyable brands, including Frito Lay, Gatorade, Pepsi Cola, Quaker, and Tropicana Through its operations, authorized bottlers, contract manufacturers, and other third parties, PepsiCo makes, markets, distributes, and sells a wide variety of convenient and enjoyable beverages, foods, and snacks, serving customers and consumers in more than 200 countries and territories To access PepsiCo's complete annual report, including notes to the financial statements, follow these steps Go to http www pepsico com Investors Select SEC Filings and then the 10K, dated 2 12 2015 (select the pdf version) Select Entire document The Notes to Consolidated Financial Statements begin on page 73 Consolidated Statement of Income PepsiCo, Inc and Subsidiaries Fiscal years ended December 27, 2014, December 28, 2013 and December 29, 2012 (in millions except per share amounts

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(d) For year-end 2014, what amounts were reported by Coca-Cola and PepsiCo as (1) gross deferred tax assets and (2) gross deferred tax liabilities? Question:

(d) For year-end 2014, what amounts were reported by Coca-Cola and PepsiCo as (1) gross deferred tax assets and (2) gross deferred tax liabilities?

Question: The financial statements of Coca-Cola and PepsiCo ...

The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies' complete annual reports, including the notes to the financial statements, are available online.

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,	2014	2013	2012
(In millions except per share data)
NET OPERATING REVENUES	$45,998	$46,854	$48,017
Cost of goods sold	17,889	18,421	19,053
GROSS PROFIT	28,109	28,433	28,964
Selling, general and administrative expenses	17,218	17,310	17,738
Other operating charges	1,183	895	447
OPERATING INCOME	9,708	10,228	10,779
Interest income	594	534	471
Interest expense	483	463	397
Equity income (loss) net	769	602	819
Other income (loss) net	(1,263)	576	137
INCOME BEFORE INCOME TAXES	9,325	11,477	11,809
Income taxes	2,201	2,851	2,723
CONSOLIDATED NET INCOME	7,124	8,626	9,086
Less: Net income attributable to noncontrolling interests	26	42	67
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY	$7,098	$8,584	$9,019
BASIC NET INCOME PER SHARE¹	$1.62	$1.94	$2.00
DILUTED NET INCOME PER SHARE1	$1.60	$1.90	$1.97
AVERAGE SHARES OUTSTANDING	4,387	4,434	4,504
Effect of dilutive securities	63	75	80
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION	4,450	4,509	4,584

¹Calculated based on net income attributable to shareowners of The Coca-Cola Company.

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Year Ended December 31,	2014	2013	2012
(In millions)
CONSOLIDATED NET INCOME	$7,124	$8,626	$9,086
Other comprehensive income:
Net foreign currency translation adjustment	(2,382)	(1,187)	(182)
Net gain (loss) on derivatives	357	151	99
Net unrealized gain (loss) on available-for-sale securities	714	(80)	178
Net change in pension and other benefit liabilities	(1,039)	1,066	(668)
TOTAL COMPREHENSIVE INCOME	4,774	8,576	8,513
Less: Comprehensive income (loss) attributable to noncontrolling interests	21	39	105
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY	$4,753	$8,537	$8,408

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS
December 31,	2014	2013
(In millions except par value)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$8,958	$10,414
Short-term investments	9,052	6,707
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	18,010	17,121
Marketable securities	3,665	3,147
Trade accounts receivable, less allowances of $331 and $61, respectively	4,466	4,873
Inventories	3,100	3,277
Prepaid expenses and other assets	3,066	2,886
Assets held for sale	679
TOTAL CURRENT ASSETS	32,986	31,304
EQUITY METHOD INVESTMENTS	9,947	10,393
OTHER INVESTMENTS	3,678	1,119
OTHER ASSETS	4,407	4,661
PROPERTY, PLANT AND EQUIPMENT net	14,633	14,967
TRADEMARKS WITH INDEFINITE LIVES	6,533	6,744
BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES	6,689	7,415
GOODWILL	12,100	12,312
OTHER INTANGIBLE ASSETS	1,050	1,140
TOTAL	$92,023	$90,055 Pepsico, Inc. is a leading global food and beverage company with a complementary portfolio of enjoyable brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. Through its operations, authorized bottlers, contract manufacturers, and other third parties, PepsiCo makes, markets, distributes, and sells a wide variety of convenient and enjoyable beverages, foods, and snacks, serving customers and consumers in more than 200 countries and territories. To access PepsiCo's complete annual report, including notes to the financial statements, follow these steps: Go to http://www.pepsico.com/Investors. Select SEC Filings and then the 10K, dated 2/12/2015 (select the pdf version). Select Entire document. The Notes to Consolidated Financial Statements begin on page 73. Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 27, 2014, December 28, 2013 and December 29, 2012 (in millions except per share amounts