Question
THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2008 2007 2006 (In millions except per share data) NET OPERATING REVENUES
THE COCA-COLA COMPANY AND SUBSIDIARIES | |||||
CONSOLIDATED STATEMENTS OF INCOME | |||||
Year Ended December 31, | 2008 | 2007 | 2006 | ||
(In millions except per share data) | |||||
NET OPERATING REVENUES | $31,944 | $ 28,857 | $ 24088 | ||
Cost of goods sold | 11,374 | 10,406 | 8,164 | ||
GROSS PROFIT | 20,570 | 18,451 | 15,924 | ||
Selling, general and administrative expenses | 11,774 | 10,945 | 9,431 | ||
Other operating charges | 350 | 254 | 185 | ||
OPERATING INCOME | 8,446 | 7,252 | 6,308 | ||
Interest income | 333 | 236 | 193 | ||
Interest expense | 438 | 456 | 220 | ||
Equity income (loss) net | (874) | 668 | 102 | ||
Other income (loss) net | (28) | 173 | 195 | ||
INCOME BEFORE INCOME TAXES | 7,439 | 7,873 | 6,578 | ||
Income taxes | 1,632 | 1,892 | 1,498 | ||
NET INCOME | $ 5,807 | $ 5,981 | $ 5,080 | ||
BASIC NET INCOME PER SHARE | $ 2.51 | $ 2.59 | $ 2.16 | ||
DILUTED NET INCOME PER SHARE | $ 2.49 | $ 2.57 | $ 2.16 | ||
AVERAGE SHARES OUTSTANDING | 2,315 | 2,313 | 2,348 | ||
Effect of dilutive securities | 21 | 18 | 2 | ||
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION | 2,336 | 2,331 | 2,350 |
Refer to Notes to Consolidated Financial Statements.
Review Coca-Cola's financial statements and answer the following questions:
1. How are Coke's numbers reported (in what denomination)?
For items 2-4, enter the answers as presented (e.g. $24,088 not $24,088,000).
2. What is Coke's net operating revenue for 2008? $
3. What is Coke's cost of goods sold for 2008? $
4. What is Cokes net income 2008? $
5. What is Cokes percent of interest expense to net operating revenue on its 2008 income statement? Rounding your answer to two decimal places. %
6. What is Coke's percent of increase in net operating revenue from 2007 to 2008? Rounding your answer to one decimal place. %
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