Evaluate the financial performance of Coca-Cola and PepsiCo using the following data for the fiscal year 2020:

($ millions)	Coca-Cola	PepsiCo
Net sales	$33,014	$67,161
Cost of goods sold	$13,492	$34,522
Gross profit	$19,522	$32,639
Operating expenses	$11,872	$24,568
Operating income	$7,650	$8,071
Interest and other (income) expense	$700	$1,400
Earnings before provision for income taxes	$6,950	$6,671
Provision for income taxes	$2,423	$2,335
Net earnings	$4,527	$4,336

Required: a. Calculate the gross profit margin, operating profit margin, and net profit margin for each company. b. Compute the return on equity (ROE) and return on assets (ROA) for both companies. Assume Coca-Cola's equity is $24,000 million and total assets are $90,000 million, while PepsiCo's equity is $20,000 million and total assets are $80,000 million. c. Determine the debt-to-equity ratio for both companies. d. Compare the profitability of both companies based on your calculations. e. Perform a trend analysis for net earnings by comparing 2019 and 2018 data, which are $4,895 million and $4,527 million for Coca-Cola and $5,216 million and $4,336 million for PepsiCo, respectively.