Making Business Decisions: Analyzing Coca-Cola's Gross Profit Ratio You are considering an investment in the common stock of Coca-Cola. The following information is from the consolidated statements of income of The Coca-Cola Company and Subsidiaries for the years ended December 31, 2015 and 2014 and for its competitor PepsiCo, Inc. and Subsidiaries for the years ended December 26, 2015 and December 27, 2014 (included in the companies' Form 10-Ks, in millions of dollars) Coca-Cola Year Ended December 31, 2015 PepsiCo Year Ended December 26, 2015 Year Ended Year Ended (in millions) Sales* Cost of goods sold** $44,294 17,482 December 31, 2014 $45,998 17,889 $63,056 28,384 December 27, 2014 $66,683 30,884 Described as "Net operating revenues" by Coca-Cola and "Net revenue" by PepsiCo *Described as "Cost of sales" by PepsiCo. Required: 1. Calculate the gross profit ratios for Coca-Cola and PepsiCo for 2015 and 2014. Enter the amounts as a percent, rounded to one decimal place Coca-Cola's 2015 gross profit ratio: Coca-Cola's 2014 gross profit ratio: PepsiCo's 2015 gross profit ratio PepsiCo's 2014 gross profit ratio 2. Which company appears to be performing better? Coca-Cola X%