The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies com-plete annual reports, including the notes to the financial statements, are available online.Instructions Use the companies financial information to answer the following questions. (a) What were the cash and cash equivalents reported by Coca-Cola and PepsiCo at the end of 2014? What does each com-pany classify as cash equivalents? (b) What were the accounts receivable (net) for Coca-Cola and PepsiCo at the end of 2014? Which company reports the greater allowance for doubtful accounts (amount and percentage of gross receivable) at the end of 2014? (c) Assuming that all net operating revenues (Coca-Cola) and all net revenues (PepsiCo) were net credit sales, compute the accounts receivable turnover for 2014 for Coca-Cola and PepsiCo; also compute the days outstanding for receiv-ables. What is your evaluation of the difference?