the Coca-Cola company and subsidiaries consolidated statements of income

year ended December 31, 2015 2014 2013

(In millions except per share data)

Net operating revenues $44,294 $45,998 46,854

cost of goods sold 17,482 17,889 18421

Gross profit 26,812 28,109 28,433

selling, general and administrative expense

16,427 17,218 18,421

other operating charges 1,657 1,183 895

operating income 8,728 9,708 10,228

interest incone 613 594 534

interest expense 856 483 463

Equity income (loss) net 489 769 602

other income (loss) net 631 1,263 576

incone before taxes 9,605 9,325 11,477

income taxes 2,239 2,201 2,851

consolidated net income 7,366 7,124 8,626

less net income attrubtable to noncontrolling interest 15 26 42

net income attributable to shareholders of the coca-cola company 7,351 7,098 8,584

basic net income per share 1.69 1.62 194

diluted net income per share 1.67 1.60 1.90

average shares outstanding 4,352 4,387 4,434

effect of dilutive securities 53 63 75

average shares outstanding assuming dilution

4,405 4,450 4,509

consoldiated statement of Income

pepsico inc. and subsidiaries

Fiscal year ended December 26, 2015 December 27, 2014 and december 28, 2013

(in millions except per share amounts)

2015 2014 2013

Net revenue 63,056 66,683 66,415

cost of sales 28,384 30,884 31,243

gross profit 34,672 35,799 35,172

selling general and administrative expenses

24,885 26,126 25,357

Venezulea inpairment charges 1,359 --- ---

amortization of intangible assets 75 92 110

operating Profit 8,353 9,581 9,705

interest expense (970) (909) (911)

interest income and other 59 85 97

Income before income taxes 7,442 8,757 8,891

Provision for income taxes 1,941 2,199 2,104

net income

less: Net income attributable to noncontrolling interest

net income attributable to pepsi co

net income attributable to pepsi co per common share

basic

diluted

weighted average common shares outstanding

basic

diluted

cash dividends declared per common share

psiCo's financial statements are presented in Appendix B. ick here to view Appendix B. inancial statements of The Coca-Cola Company are presented in Appendix C. Click here to view Appendix The complete annual reports of PepsiCo and Coca-Cola, including the notes to the financial statements are available at each company's respective website Based on the information contained in these financial statements, determine each of the following for each company The percentage increase (decrease in () in net sales and (ii) net income from 2014 to 2015. Round answers to 1 decimal places 15.2Enter negative amounts using the negative preceding the number PepsiCo Coca-Cola Company Percentage increase (decrease in net sales Percentage increase (decrease in net income (22) The percentage increase in (15.2%) total assets and total common stockholders shareholders) equity from 2014 to 2015. (Round answers to 1 decimal places 15.2 Enter the amountsuseither and son Coca-Cola Company Percentage increase decrease in total assets Percentage increase decrease in total stockholders' equity The basic earning per share and price earnings ratio for 2015. For both Pepico and Coca Colause the basic eam pr e coca concom ents: PepsiCo, Inc. ages. The following are PepsiCo's financial statements as presented in its 2015 annual report. The complete Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 26, 2015. December 27, 2014 and December 28, 2013 (in millions except per share amounts) 2015 63,056 $ 28,384 34,672 24,885 1,359 2014 66,683 $ 30.884 35.799 26,126 2013 66,415 31,243 35.172 25,357 75 8.353 9,705 (911) 8.891 Net Revenue Cost of sales Gross profit Selling, general and administrative expenses Venezuela impairment charges Amortization of intangible assets Operating Profit Interest expense Interest income and other Income before income taxes Provision for income taxes Net income Less: Net income attributable to noncontrolling interests Net Income Attributable to PepsiCo Net Income Attributable to PepsiCo per Common Share Basic Diluted Weighted average common shares outstanding Basic Diluted Cash dividends declared per common share 2.104 $ 5,452 $ 6,513 $ 6,740 $ S 3.71 $ 3.67 $ 4.31 $ 4.27 $ 437 4.32 1,469 1,485 2.7625 1,509 1,527 2.5325 1,541 1.560 2.24 S $ $ See accompanying notes to the consolidated financial statements ements: The Coca-Cola Company lustry. It offers hundreds of brands, including soft drinks, fruit juices, sports drinks and other beverages in more than 200 count notes to the financial statements, is available at the company's website. THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME 2015 2014 $ 44.294 17,482 26,812 16,427 1.657 8,728 613 856 189 Year Ended December 31 (In millions except per share data) NET OPERATING REVENUES Cost of goods sold GROSS PROFIT Selling, general and administrative expenses Other operating charges OPERATING INCOME Interest income Interest expense Equity income (loss) - net Other income (loss) -net INCOME BEFORE INCOME TAXES Income taxes CONSOLIDATED NET INCOME Less: Net income attributable to noncontrolling interests NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY BASIC NET INCOME PER SHARE DILUTED NET INCOME PER SHARE AVERAGE SHARES OUTSTANDING Effect of dilutive securities AVERAGE SHARES OUTSTANDING ASSUMING DILUTION Calculated based on net income attributable to shareowners of The Coca Cola Company 31 $ 45,998 17,889 28,109 17,218 1,183 9,708 594 483 769 (1.263) 9,325 2,201 7.124 26 7,098 1.62 1.60 ,387 $ 46,854 18,421 28,433 17,310 895 10,228 534 463 602 576 11,477 2.851 8,626 9.605 2,239 7,366 42 $ $ $ 7.351 1.69 1.67 $ $ $ $ 8,584 $ 1.94 $ 1.90 4,434 4,52 4 1. 4450 500 PepsiCo Coca-Cola Company Percentage increme decrease in net sales Percentage increase decrease in net income 2) 15 o t her total assets and total common stockholders' shareholders equity from 2014 to 2015.(Round anders to decimal The percentage increase in (15.2016) PepsiCo Coca-Cola Company sets Percentage increase decrease in total Percentage increase (decrease in total stockholders equity the end of year 2015 The basic earnings per share and price earnings ratio for 2015. For both Pepsicoand Coca-Colause the basic earning per sharel Coca Colas.common stock ada market price of $4203 $10041. Round basic earningsper share to 2 decimal places. 15.25 and price-coming roto to 1 decimal place, 15.2) PepsiCo Coca-Cola Company Bank earning per share Price-earnings ratio