The financial statements of Coca-Cola and PepsiCo are presented in your eText in Appendices C and D, respectively. The companies' complete annual reports, including the notes to the financial statements, are available online. Use the companies' financial information to answer the following questions:

1. Identify the changes in accounting principles reported by Coca-Cola during the three years covered by its income statements (2015-2017). Describe the nature of the change and the year of change.

2. Identify the changes in accounting principles reported by PepsiCo during the three years covered by its income statements (2015-2017). Describe the nature of the change and the year of change.