Using Coca Cola Company's data from 2020 as an example, can you please show me how to do horizontal and vertical analyses of the financial statements?
THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME (In millions except per share data) $ Year Ended December 31, 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 (loss) 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 - Basic Effect of dilutive securities Average Shares Outstanding - Diluted 2020 33,014 $ 13,433 19,581 9,731 853 8,997 370 1,437 978 841 9,749 1,981 7,768 21 7,747 $ 1.80 $ 1.79 $ 4,295 28 4,323 2019 37,266 S 14,619 22,647 12,103 458 10,086 563 946 1,049 34 10,786 1,801 8,985 65 8,920 S 2.09 S 2.07 S 4,276 38 4,314 2018 34,300 13,067 21,233 11,002 1,079 9,152 689 950 1,008 (1,674) 8.225 1.749 6,476 42 6.434 1.51 1.50 4,259 40 4.299 $ $ $ Calculated based on net income attributable to sharcowners of The Coca-Cola Company. Refer to Notes to Consolidated Financial Statements. THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) 2020 2019 2018 7,768 $ 8,985 $ 6,476 Year Ended December 31, Consolidated Net Income Other Comprehensive Income: Net foreign currency translation adjustments Net gains (losses) on derivatives Net change in unrealized gains (losses) on available-for-sale debt securities Net change in pension and other postretirement benefit liabilities Total Comprehensive Income Less: Comprehensive income attributable to noncontrolling interests Total Comprehensive Income Attributable to Shareowners of The Coca-Cola Company (911) 15 (47) (267) 6,558 (132) 74 (54) 18 (159) 8,864 110 (2,035) (7) (34) 29 4,429 95 6,690 $ 8,754 $ 4,334 Refer to Notes to Consolidated Financial Statements. THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) 2020 2019 S 6,795 S 1,771 8,566 2,348 3,144 3,266 1,916 19,240 19,273 812 6,480 1,467 7,947 3,228 3,971 3,379 1,886 20,401 19,025 854 6,075 2,412 10,838 9,266 16,764 736 86,381 6,184 2,460 10,777 10,395 17,506 649 87,296 $ S December 31, ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities Trade accounts receivable, less allowances of $526 and $524, respectively Inventories Prepaid expenses and other assets Total Current Assets Equity method investments Other investments Other assets Deferred income tax assets Property, plant and equipment - net Trademarks with indefinite lives Goodwill Other intangible assets Total Assets LIABILITIES AND EQUITY Current Liabilities Accounts payable and accrued expenses Loans and notes payable Current maturities of long-term debt Accrued income taxes Total Current Liabilities Long-term debt Other liabilities Deferred income tax liabilities The Coca-Cola Company Shareowners' Equity Common stock, $0.25 par value; authorized 11,200 shares; issued 7,040 shares Capital surplus Reinvested earnings Accumulated other comprehensive income (loss) Treasury stock, at cost 2,738 and 2,760 shares, respectively Equity Attributable to Shareowners of The Coca-Cola Company Equity attributable to noncontrolling interests Total Equity Total Liabilities and Equity S 11,145 $ 2,183 485 788 14,601 40,125 9,453 1,833 11,312 10.994 4,253 414 26,973 27,516 8,510 2,284 1,760 17,601 66,555 (14,601) (52,016) 19,299 1,985 21.284 87,296 $ 1,760 17,154 65,855 (13,544) (52,244) 18,981 2.117 21,098 86,381 S THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) 2020 2019 2018 S 7,768 $ 1,536 126 (18) ( (511) (88) (914) 556 699 690 9,844 8,985 $ 1,365 201 (280) (421) 91 (467) 127 504 366 10,471 6,476 1,086 225 (413) (457) (50) 743 558 699 (1,240) 7,627 Year Ended December 31, Operating Activities Consolidated net income Depreciation and amortization Stock-based compensation expense Deferred income taxes Equity (income) loss - net of dividends Foreign currency adjustments Significant (gains) losses - net Other operating charges Other items Net change in operating assets and liabilities Net Cash Provided by Operating Activities Investing Activities Purchases of investments Proceeds from disposals of investments Acquisitions of businesses, cquity method investments and nonmarketable securities Proceeds from disposals of businesses, cquity method investments and nonmarketable securities Purchases of property, plant and equipment Proceeds from disposals of property, plant and equipment Other investing activities Net Cash Provided by (Used in) Investing Activities Financing Activities Issuances of debt Payments of debt Issuances of stock Purchases of stock for treasury Dividends Other financing activities Net Cash Provided by (Used in) Financing Activities Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the year Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Year Less: Restricted cash and restricted cash equivalents at end of year Cash and Cash Equivalents at End of Year (13,583) 13,835 (1,052) 189 (1,177) 189 122 (1,477) (4,704) 6,973 (5,542) 429 (2,054) 978 (56) (3,976) (7,789) ( 14,977 (1,263) 1,362 (1,548) 248 (60) 5.927 26,934 (28,796) 647 (118) (7,047) 310 (8,070) 23,009 (24,850) 1,012 (1,103) (6,845) (227) (9,004) 27,605 (30,600) 1,476 (1.912) (6,644) (272) (10,347) 76 (72) (262) 373 6,737 2.945 6,373 7,110 (2,581) 9,318 6,737 257 6,480 S 9,318 315 6,795 S 241 9.077 S Refer to Notes to Consolidated Financial Statements. THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREOWNERS' EQUITY (In millions except per share data) 2020 2019 2018 4,280 22 4.268 33 (21) 4.280 1,760 $ 4,259 48 (39) 4.268 4,302 1,760 $ $ 1,760 17,154 307 141 (1) 17,601 16,520 433 201 15,864 467 225 (36) 16,520 17,154 65,855 7,747 (7,047) 66,555 63,234 546 8,920 (6,845) 65,855 60,430 3,014 6,434 (6,644) 63,234 Year Ended December 31, Equity Attributable to Shareowners of The Coca-Cola Company Number of Common Shares Outstanding Balance at beginning of year Treasury stock issued to employees related to stock-based compensation plans Purchases of stock for treasury Balance at end of year Common Stock Capital Surplus Balance at beginning of year Stock issued to employees related to stock-based compensation plans Stock-based compensation expense Other activities Balance at end of year Reinvested Earnings Balance at beginning of year Adoption of accounting standards! Net income attributable to shareowners of The Coca-Cola Company Dividends (per share $1.64, $1.60 and $1.56 in 2020, 2019 and 2018, respectively) Balance at end of year Accumulated Other Comprehensive Income (Loss) Balance at beginning of year Adoption of accounting standards! Nct other comprehensive income (loss) Balance at end of year Treasury Stock Balance at beginning of year Treasury stock issued to employees related to stock-based compensation plans Purchases of stock for treasury Balance at end of year Total Equity Attributable to Shareowners of The Coca-Cola Company Equity Attributable to Noncontrolling Interests Balance at beginning of year Net income attributable to noncontrolling interests Net foreign currency translation adjustments Dividends paid to noncontrolling interests Acquisition of interests held by noncontrolling owners Contributions by noncontrolling interests Business combinations Other activities Total Equity Attributable to Noncontrolling Interests (13,544) (12,814) (564) (166) (13,544) (10,305) (409) (2.100) (12,814) (1,057) (14,601) (52,244) 228 (51,719) 501 (1.026) (52,244) 18,981 $ (50,677) 704 (1,746) (51,719) 16,981 (52,016) 19,299 $ $ $ 2,117 $ 21 (153) (18) 2.077 $ 65 45 1,905 42 53 (31) (48) (84) 17 1 3 59 101 7 2,077 $ 1,985 $ 2,117 $
