Prepare vertical common-size income statements for Pepsi Co. Note: Use Total Sales and Total Assets as the denominators for the income statement, respectively. Compute for 2018, 2017, and 2016.

PEPSI CO
Report Date	2018		2017		2016
Scale	Thousands		Thousands		Thousands
Net revenue	64661000		63525000		62799000
Cost of sales	29381000		28785000		28209000
Gross profit	35280000		34740000		34590000
Selling, general & administrative expenses	25170000		24231000		24735000
Amortization of intangible assets	0		0		70000
Operating profit	10110000		10509000		9785000
Other pension & retiree medical benefits income (expense)	298000		0		0
Interest expense	-1525000		-1151000		-1342000
Interest income & other income	306000		244000		110000
Income before income taxes	9189000		9602000		8553000
Provision (benefit) for income taxes	-3370000		4694000		2174000
Less: net income attributable to noncontrolling interests	-44000		-51000		-50000
Net income	12515000		4857000		6329000
Additional Information
Weighted average shares outstanding - basic	1415000		1425000		1439000
Year end shares outstanding	1409000		1420000		1428000
Cash dividends declared per common share	3.588		3.168		2.96

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