In excel, perform horizontal analysis of the balance sheet. Be sure to include the name of the company, your name, and the assignment name as a header. Also, name the document Module 7: Assignment 1 -- Written Case Your Name.

In a word document, summarize the balance sheet results of the horizontal analysis. Simply select some of the higher or lower %s to discuss. Focus on items you feel are more relevant and telling of the company operations. For example, you could write one paragraph on each section of the balance sheet i.e. assets, liabilities, equity.

I selected Pepsi Co. I need help with the horizontal analysis, quite confused. Thanks!

Assets Fiscal year is January-December. All values USD Millions. 2020 2019 2018 2017 2016 5-year trend Cash & Short Term Investments 9,551 5,738 10,990 19,510 16,125 Cash Only 8,185 5,509 10,718 10,610 9,158 Short-Term Investments 1,366 229 272 8,900 6,967 Cash & Short Term Investments Growth 66.45% -47.79% -43.67% 20.99% Cash & ST Investments/Total Assets 10.28% 7.31% 14.15% 23.86% 20.98% Total Accounts Receivable 8,404 7,822 7,142 7,024 6,694 Accounts Receivables, Net 6,691 6,342 5,978 5,827 5,575 Accounts Receivables, Gross 6,892 6,447 6,079 5,956 5,709 Bad Debt/Doubtful Accounts (201) (105) (101) (129) (134) Other Receivables 1,713 1,480 1,164 1,197 1,119 Accounts Receivable Growth 7.44% 9.52% 1.68% 4.93% Accounts Receivable Turnover 8.37 8.59 9.05 9.04 9.38 Inventories 4,172 3,338 3,128 2,947 2,723 Finished Goods 2,247 1,743 1,638 1.436 1,258 Work in Progress 205 200 178 167 150 Raw Materials 1,720 1,395 1,312 1,344 1,315 Other Current Assets 826 692 586 1,500 1,515 Miscellaneous Current Assets 826 692 586 1,500 1,515 Total Current Assets 22,953 17,590 21,846 30,981 27,057 Net Property, Plant & Equipment 23,039 20,853 17,589 17,240 16,591 Property, Plant & Equipment - Gross 48,010 44,551 40,164 39,106 36,818 Buildings 10,214 9,314 8,941 8,796 8,306 Land & Improvements 1,171 1,130 1,078 1,148 1,153 Machinery & Equipment 31,276 29,390 27,715 27,018 25,277 Construction in Progress 3,679 3,169 2,430 2,144 2,082 Accumulated Depreciation 24,971 23,698 22,575 21,866 20,227 Total Investments and Advances 2,792 2,683 2,409 2,042 1,950 LT Investment - Affiliate Companies 2,792 2,683 2,409 2,042 1,950 Long-Term Note Receivable 109 109 85 86 59 105 Intangible Assets 38,072 31,544 30,633 28,582 27,863 Net Goodwill 18,757 15,501 14,808 14,744 14,430 Net Other Intangibles 19,315 16,043 15,825 13,838 13,433 Other Assets 1,581 1,433 721 900 563 Deferred Charges 1,088 1,048 428 554 225 Tangible Other Assets 493 385 293 346 338 Total Assets 92,918 78,547 77,648 81,756 76,870 Assets - Total - Growth 18.30% 18.30% 1.16% -5.02% 6.36% Asset Turnover 0.82 Return On Average Assets 8.30% Liabilities & Shareholders' Equity All values USD Millions. 2020 2019 2018 2017 2016 5-year trend ST Debt & Current Portion LT Debt 4,240 3,362 4,026 5,485 6,892 Short Term Debt 882 514 73 1,465 2,491 Current Portion of Long Term Debt 3,358 2,848 3,953 4,020 4,401 Accounts Payable 8,853 8,013 7,213 6,727 6,158 Accounts Payable Growth 10.48% 11.09% 7.22% 9.24% Other Current Liabilities 10,279 9,086 10,899 8,290 8,085 Dividends Payable 1,430 1,351 1,329 1,161 1,097 Accrued Payroll 2,059 1,835 1,755 1,785 1,770 Miscellaneous Current Liabilities 6.790 5,900 7,815 5,344 5,218 Total Current Liabilities 23,372 20,461 22,138 20,502 21,135 Current Ratio 0.98 0.86 0.99 1.51 1.28 Quick Ratio 0.80 0.70 0.85 1.37 1.15 Cash Ratio 0.41 0.28 0.50 0.95 0.76 Long-Term Debt 41,603 30,266 28,295 33,796 30,053 Long-Term Debt excl. Capitalized Leases 40,370 29,148 28,295 33,796 30,053 Non-Convertible Debt 40,370 29.148 28,295 33,796 30,053 Provision for Risks & Charges 4,508 3,767 3,200 2,521 3,857 Deferred Taxes (88) (268) (865) 3,242 5,073 Deferred Taxes - Credit 4,284 4,091 3,499 5,194 7,814 Deferred Taxes - Debit 4,372 4,359 4,364 1,952 2,741 Other Liabilities 5,599 5,094 5,914 8,762 2,812 Other Liabilities (excl. Deferred Income) 5,599 5,094 5,914 8,762 2,812 Total Liabilities 79,366 63,679 63,046 70,775 65,671 Total Liabilities/Total Assets 85.42% 81.07% 81.19% 86.57% 85.43% Preferred Stock (Carrying Value) (156) (151) Redeemable Preferred Stock (156) (151) Common Equity (Total) 13,454 14,786 14,518 11,045 11,246 Common Stock Par/Carry Value 23 23 23 24 24 24 Additional Paid-In Capital/Capital Surplus 3,910 3,886 3,953 3,996 4,091 Retained Earnings 63,443 61,946 59,947 52,839 52,518 Cumulative Translation Adjustment/Unrealized For. Exch. Gain (11,940) (11,290) (11,918) (10,277) (11,386) IIIII Unrealized Gain/Loss Marketable Securities 2 ( (4) 64 Other Appropriated Reserves (3,536) (3,010) (3,203) (2,776) (2,597) IIIII Treasury Stock (38,446) (36,769) (34,286) (32,757) (31,468) IIIII Common Equity/Total Assets 14.48% 18.82% 18.70% 13.51% 14.63% Total Shareholders' Equity 13,454 14,786 14,518 10,889 11,095 Total Shareholders' Equity/Total Assets 14.48% 18.82% 18.70% 13.32% 14.43% Accumulated Minority Interest 98 82 84 92 104 Total Equity 13,552 14,868 14,602 10,981 11,199 Total Equity 13,552 14,868 14,602 10,981 11,199 Liabilities & Shareholders' Equity 92,918 78,547 77,648 81,756 76,870 Assets Fiscal year is January-December. All values USD Millions. 2020 2019 2018 2017 2016 5-year trend Cash & Short Term Investments 9,551 5,738 10,990 19,510 16,125 Cash Only 8,185 5,509 10,718 10,610 9,158 Short-Term Investments 1,366 229 272 8,900 6,967 Cash & Short Term Investments Growth 66.45% -47.79% -43.67% 20.99% Cash & ST Investments/Total Assets 10.28% 7.31% 14.15% 23.86% 20.98% Total Accounts Receivable 8,404 7,822 7,142 7,024 6,694 Accounts Receivables, Net 6,691 6,342 5,978 5,827 5,575 Accounts Receivables, Gross 6,892 6,447 6,079 5,956 5,709 Bad Debt/Doubtful Accounts (201) (105) (101) (129) (134) Other Receivables 1,713 1,480 1,164 1,197 1,119 Accounts Receivable Growth 7.44% 9.52% 1.68% 4.93% Accounts Receivable Turnover 8.37 8.59 9.05 9.04 9.38 Inventories 4,172 3,338 3,128 2,947 2,723 Finished Goods 2,247 1,743 1,638 1.436 1,258 Work in Progress 205 200 178 167 150 Raw Materials 1,720 1,395 1,312 1,344 1,315 Other Current Assets 826 692 586 1,500 1,515 Miscellaneous Current Assets 826 692 586 1,500 1,515 Total Current Assets 22,953 17,590 21,846 30,981 27,057 Net Property, Plant & Equipment 23,039 20,853 17,589 17,240 16,591 Property, Plant & Equipment - Gross 48,010 44,551 40,164 39,106 36,818 Buildings 10,214 9,314 8,941 8,796 8,306 Land & Improvements 1,171 1,130 1,078 1,148 1,153 Machinery & Equipment 31,276 29,390 27,715 27,018 25,277 Construction in Progress 3,679 3,169 2,430 2,144 2,082 Accumulated Depreciation 24,971 23,698 22,575 21,866 20,227 Total Investments and Advances 2,792 2,683 2,409 2,042 1,950 LT Investment - Affiliate Companies 2,792 2,683 2,409 2,042 1,950 Long-Term Note Receivable 109 109 85 86 59 105 Intangible Assets 38,072 31,544 30,633 28,582 27,863 Net Goodwill 18,757 15,501 14,808 14,744 14,430 Net Other Intangibles 19,315 16,043 15,825 13,838 13,433 Other Assets 1,581 1,433 721 900 563 Deferred Charges 1,088 1,048 428 554 225 Tangible Other Assets 493 385 293 346 338 Total Assets 92,918 78,547 77,648 81,756 76,870 Assets - Total - Growth 18.30% 18.30% 1.16% -5.02% 6.36% Asset Turnover 0.82 Return On Average Assets 8.30% Liabilities & Shareholders' Equity All values USD Millions. 2020 2019 2018 2017 2016 5-year trend ST Debt & Current Portion LT Debt 4,240 3,362 4,026 5,485 6,892 Short Term Debt 882 514 73 1,465 2,491 Current Portion of Long Term Debt 3,358 2,848 3,953 4,020 4,401 Accounts Payable 8,853 8,013 7,213 6,727 6,158 Accounts Payable Growth 10.48% 11.09% 7.22% 9.24% Other Current Liabilities 10,279 9,086 10,899 8,290 8,085 Dividends Payable 1,430 1,351 1,329 1,161 1,097 Accrued Payroll 2,059 1,835 1,755 1,785 1,770 Miscellaneous Current Liabilities 6.790 5,900 7,815 5,344 5,218 Total Current Liabilities 23,372 20,461 22,138 20,502 21,135 Current Ratio 0.98 0.86 0.99 1.51 1.28 Quick Ratio 0.80 0.70 0.85 1.37 1.15 Cash Ratio 0.41 0.28 0.50 0.95 0.76 Long-Term Debt 41,603 30,266 28,295 33,796 30,053 Long-Term Debt excl. Capitalized Leases 40,370 29,148 28,295 33,796 30,053 Non-Convertible Debt 40,370 29.148 28,295 33,796 30,053 Provision for Risks & Charges 4,508 3,767 3,200 2,521 3,857 Deferred Taxes (88) (268) (865) 3,242 5,073 Deferred Taxes - Credit 4,284 4,091 3,499 5,194 7,814 Deferred Taxes - Debit 4,372 4,359 4,364 1,952 2,741 Other Liabilities 5,599 5,094 5,914 8,762 2,812 Other Liabilities (excl. Deferred Income) 5,599 5,094 5,914 8,762 2,812 Total Liabilities 79,366 63,679 63,046 70,775 65,671 Total Liabilities/Total Assets 85.42% 81.07% 81.19% 86.57% 85.43% Preferred Stock (Carrying Value) (156) (151) Redeemable Preferred Stock (156) (151) Common Equity (Total) 13,454 14,786 14,518 11,045 11,246 Common Stock Par/Carry Value 23 23 23 24 24 24 Additional Paid-In Capital/Capital Surplus 3,910 3,886 3,953 3,996 4,091 Retained Earnings 63,443 61,946 59,947 52,839 52,518 Cumulative Translation Adjustment/Unrealized For. Exch. Gain (11,940) (11,290) (11,918) (10,277) (11,386) IIIII Unrealized Gain/Loss Marketable Securities 2 ( (4) 64 Other Appropriated Reserves (3,536) (3,010) (3,203) (2,776) (2,597) IIIII Treasury Stock (38,446) (36,769) (34,286) (32,757) (31,468) IIIII Common Equity/Total Assets 14.48% 18.82% 18.70% 13.51% 14.63% Total Shareholders' Equity 13,454 14,786 14,518 10,889 11,095 Total Shareholders' Equity/Total Assets 14.48% 18.82% 18.70% 13.32% 14.43% Accumulated Minority Interest 98 82 84 92 104 Total Equity 13,552 14,868 14,602 10,981 11,199 Total Equity 13,552 14,868 14,602 10,981 11,199 Liabilities & Shareholders' Equity 92,918 78,547 77,648 81,756 76,870