QUESTION 3 Calculate the following ratios for Coca-Cola's Company Profitability Ratios (1) Net Profit Margin (2) Gross Profit Percentage (3) Fixed Asset Turnover (4) Return on Equity (ROE) (5) Earnings per Share (EPS) (6) Price/Earnings Ratio Liquidity Ratios (7) Receivables Turnover (8) Inventory Turnover (9) Days to Sell (10) Current Ratio (11)Solvency Ratios (12)Debt-to-Assets (13) Times Interest EarnedTHE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) Year Ended December 31 2021 2020 2019 Consolidated Net Income 9.804 $ 7.768 5 3.985 Other Comprehensive Income: Net forcign currency translation adjustments (699) (911) 74 Net gains (losses) on derivatives 214 15 (54) Net change in unrealized gains (losses) on available-for-sale debt securities (90) (47) 18 Net change in pension and other postretirement benefit liabilities 712 (267) (159) Total Comprehensive Income 9.941 6.558 8,864 Less: Comprehensive income (loss) attributable to noncontrolling interests (101) (132) 1 10 Total Comprehensive Income Attributable to Shareowners of The Coca-Cola Company 10,042 $ 6,690 $ 8.754 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In millions except per share data) Year Ended December 31. 2021 3020 3019 Net Operating Revenues $ 38,655 S 33,014 $ 37,266 Cost of goods sold 15.357 13,433 14,619 Gross Profit 23,298 19.581 22,647 Selling, general and administrative expenses 12,144 9,731 12,103 Other operating charges 846 853 458 Operating Income 10,308 1,997 10,086 Interest income 276 370 563 Interest expense 1,597 1,437 946 Equity income (loss) - net 1,438 978 1.049 Other income (loss) - net 2.000 841 34 Income Before Income Taxes 12.425 1,749 10,786 Income taxes 2,621 1,981 1.801 Consolidated Net Income 9.804 7,768 8.985 Less: Net income (loss) attributable to noncontrolling interests 33 21 65 Net Income Attributable to Shareowners of The Coca-Cola Company 9,771 S .747 $ 8.920 Basic Net Income Per Share 2.26 5 1.80 $ 2.09 Diluted Net Income Per Share 2.25 S 1.79 $ 2.07 Average Shares Outstanding - Basic 4.315 1,295 4,276 Effect of dilutive securities 25 28 38 Average Shares Outstanding - Diluted 4,340 4,323 4.314THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) December 31. 20121 2020 ASSETS Current Assets Cash and cash equivalents 9,684 5 6,795 Short-term investments 1,242 1,771 Total Cash, Cash Equivalents and Short-Term Investments 10,926 8,566 Marketable securities 1,699 2.348 Trade accounts receivable, less allowances of $516 and $526, respectively 3,512 3.144 Inventories 3,414 3.266 Prepaid expenses and other current assets 2,994 1,916 Total Current Assets 22,545 19,240 Equity method investments 17.598 19,273 Other investments 818 812 Other noncurrent assets 6,731 6,184 Deferred income tax assets 2,129 2,460 Property, plant and equipment - net 9,920 10,777 Trademarks with indefinite lives 14,465 10,395 Goodwill 19.363 17,506 Other intangible assets 785 649 Total Assets 94.354 5 87,296 LIABILITIES AND EQUITY Current Liabilities Accounts payable and accrued expenses 14,619 5 11.145 Loans and notes payable 3,307 2,183 Current maturities of long-term debt 1,338 485 Accrued income taxes 686 788 Total Current Liabilities 19,950 14,601 Long-term debt 38,116 40,125 Other noncurrent liabilities 8,607 9.453 Deferred income tax liabilities 2,821 1.833 The Coca-Cola Company Shareowners' Equity Common stock, 50.25 par value; authorized - 11,200 shares; issued - 7,040 shares 1,760 1,760 Capital surplus 18,116 17.601 Reinvested earnings 69.094 66,555 Accumulated other comprehensive income (loss) (14,330) (14,601) Treasury stock, at cost - 2,715 and 2,738 shares, respectively (51,641) (52,016) Equity Attributable to Shareowners of The Coca-Cola Company 22,999 19,299 Equity attributable to noncontrolling interests 1,861 1.985 Total Equity 24,860 21,284 Total Liabilities and Equity 94,354 5 87,296THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) Year Ended December 31. 3070 3019 Operating Activities Consolidated net income 9.804 5 7.768 5 8.985 Depreciation and amortization 1.451 1,536 1,365 Stock-based compensation expense 347 126 201 Deferred income taxes 894 (18) (280) Equity (income) loss - net of dividends (615) (SID) (421) Foreign currency adjustments 18:81 91 Significant (gains) losses - net (1.365) (914) (467) Other operating charges 506 556 127 Other items 201 699 504 Net change in operating assets and liabilities 1.315 366 Net Cash Provided by Operating Activities 12,625 9,844 10,471 Investing Activities Purchases of investments (6.030) (13,583) (4,70-4) Proceeds from disposals of investments 7.059 13,835 6,973 Acquisitions of businesses, equity method investments and nonmarketable securities (4,766) (1,053) (5,542) Proceeds from disposals of businesses, equity method investments and nonmarketable securities 1,180 189 429 Purchases of property, plant and equipment (1.367) (1.177) (2,054) Proceeds from disposals of property, plant and equipment 189 978 Other investing activities 51 122 (56) Net Cash Provided by (Used in) Investing Activities (2.765) (1,477) (3,976) Financing Activities Issuances of debi 13,094 26,934 23,009 Payments of debt (12,866) (28,796) (24,850) Issuances of stock 703 1,012 Purchases of stock for treasury (1 18) (1, 103) Dividends (7,252) (7,047) (6,845) Other financing activities 410 (227) Net Cash Provided by (Used in) Financing Activities (6.786) (8,070) (9,004) Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (159) 76 (72) Cush, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the year 2.915 373 (2,581) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year 7.110 6.737 9.318 Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Year 10,015 7,110 6,737 Less: Restricted cash and restricted cash equivalents at end of year 341 315 257 Cash and Cash Equivalents at End of Year 9.684 5 6.795 5 6,480THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREOWNERS' EQUITY (In millions except per share data) Year Ended December 31, 2021 2020 2019 Equity Attributable to Shareowners of The Coca-Cola Company Number of Common Shares Outstanding Balance at beginning of year 4,301 4.280 4.268 Treasury stock issued to employees related to stock-based compensation plans 21 22 33 Purchases of stock for treasury (21) Balance at end of year 4.325 4.302 4.280 Common Stock 1,760 5 ,760 1,760 Capital Surplus Balance at beginning of year 17,601 17,154 16.520 Stock issued to employees related to stock-based compensation plans 216 307 433 Stock-based compensation expense 299 141 201 Other activities Balance at end of year 18,116 17.601 17.154 Reinvested Earnings Balance at beginning of year 66,555 65,855 63,234 Adoption of accounting standards" 19 546 Net income attributable to shareowners of The Coca-Cola Company 9,771 7,747 8,920 Dividends (per share - $1.68, $1.64 and $1.60 in 2021, 2020 and 2019, respectively) (7,251) (7,047) (6,845) Balance at end of year 69.094 56 555 65.855 Accumulated Other Comprehensive Income (Loss) Balance at beginning of year (14,601) (13,544) (12,814) Adoption of accounting standards' (564) Net other comprehensive income (loss) 271 (1,057) (166) Balance at end of year (14,330) (14.601) (13.54-4) Treasury Stock Balance at beginning of year (52,016) (52,244) (51,719) Treasury stock issued to employees related to stock-based compensation plans 375 501 Purchases of stock for treasury (1,026) Balance at end of year 151.640) (52,016) 52,244) Total Equity Attributable to Shareowners of The Coca Cola Company 12.999 5 19.299 5 18,981 Equity Attributable to Noncontrolling Interests Balance at beginning of year 1.985 5 2117 5 2,077 Net income attributable to noncontrolling interests 3.3 21 65 Net foreign currency translation adjustments (132) (153) 45 Dividends paid to noncontrolling interests (18) (48) Acquisition of interests held by noncontrolling owners Contributions by noncontrolling interests 20 17 Net change in pension and other postretirement benefit liabilities (2) Business combinations 59 Total Equity Attributable to Noncontrolling Interests 1,861 5 1,985 5 2,117