ust looking for a little clarification on these questions. I have attached the financial statements below.

InstructionsUse the companies' financial information to answer the following questions.

(a)

What is the par or stated value of Coca-Cola's and PepsiCo's common or capital stock?

(b)

What percentage of authorized shares was issued by Coca-Cola at December 31, 2014, and by PepsiCo at December 31, 2014?

(c)

How many shares are held as treasury stock by Coca-Cola at December 31, 2014, and by PepsiCo at December 31, 2014?

(d)

How many Coca-Cola common shares are outstanding at December 31, 2014? How many PepsiCo shares of capital stock are outstanding at December 31, 2014?

(e)

What amounts of cash dividends per share were declared by Coca-Cola and PepsiCo in 2014? What were the dollar amount effects of the cash dividends on each company's stockholders' equity?

(f)

What are Coca-Cola's and PepsiCo's return on common/capital stockholders' equity for 2014 and 2013? Which company gets the higher return on the equity of its shareholders?

(g)

What are Coca-Cola's and PepsiCo's payout ratios for 2014?

(h)

What was the market price range (high/low) for Coca-Cola's common stock and PepsiCo's capital stock during the fourth quarter of 2014? Which company's (Coca-Cola's or PepsiCo's) stock price increased more (%) during 2014?

THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Year Ended December 31, 2014 2013 2012 (In millions except per share data) NET OPERATING REVENUES $ $ $ 45,99 46,85 48,01 8 4 7 Cost of goods sold 17,88 18,42 19,05 9 1 3 GROSS PROFIT 28,10 28,43 28,96 9 3 4 Selling, general and administrative expenses 17,21 17,31 17,73 8 0 8 Other operating charges 1,183 OPERATING INCOME 9,708 10,22 10,77 8 9 895 447 Interest income 594 534 471 Interest expense 483 463 397 Equity income (loss) net 769 602 819 Other income (loss) net (1,26 3) 576 137 INCOME BEFORE INCOME TAXES 9,325 11,47 11,80 7 9 Income taxes 2,201 2,851 2,723 CONSOLIDATED NET INCOME 7,124 8,626 9,086 Less: Net income attributable to noncontrolling interests 26 42 67 NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY $ $ $ 7,098 8,584 9,019 BASIC NET INCOME PER SHARE1 $ 1.62 $ 1.94 $ 2.00 DILUTED NET INCOME PER SHARE1 $ 1.60 $ 1.90 $ 1.97 AVERAGE SHARES OUTSTANDING 4,387 4,434 4,504 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME Effect of dilutive securities AVERAGE SHARES OUTSTANDING ASSUMING DILUTION 63 75 80 4,450 4,509 4,584 Calculated based on net income attributable to shareowners of The Coca-Cola Company. 1 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Year Ended December 31, 2014 2013 2012 (In millions) CONSOLIDATED NET INCOME $ $ $ 7,12 8,626 9,08 4 6 Other comprehensive income: Net foreign currency translation adjustment (2,38 (1,18 (182) 2) 7) Net gain (loss) on derivatives 357 Net unrealized gain (loss) on available-for-sale securities Net change in pension and other benefit liabilities TOTAL COMPREHENSIVE INCOME Less: Comprehensive income (loss) attributable to noncontrolling interests TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY 714 151 99 (80) 178 (1,03 1,066 (668) 9) 4,77 8,576 8,51 4 3 21 39 105 $ $ $ 4,75 8,537 8,40 3 8 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS December 31, 2014 2013 $ $ (In millions except par value) ASSETS CURRENT ASSETS Cash and cash equivalents THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS 8,958 10,414 Short-term investments TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS Marketable securities Trade accounts receivable, less allowances of $331 and $61, respectively 9,052 6,707 18,01 17,121 0 3,665 3,147 4,466 4,873 Inventories 3,100 3,277 Prepaid expenses and other assets 3,066 2,886 Assets held for sale TOTAL CURRENT ASSETS 679 32,98 31,304 6 EQUITY METHOD INVESTMENTS 9,947 10,393 OTHER INVESTMENTS 3,678 1,119 OTHER ASSETS 4,407 4,661 PROPERTY, PLANT AND EQUIPMENT net 14,63 14,967 3 TRADEMARKS WITH INDEFINITE LIVES 6,533 6,744 BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES 6,689 7,415 GOODWILL OTHER INTANGIBLE ASSETS TOTAL ASSETS 12,10 12,312 0 1,050 1,140 $ $ 92,02 90,055 3 LIABILITIES AND EQUITY CURRENT LIABILITIES Accounts payable and accrued expenses Loans and notes payable Current maturities of long-term debt $ $ 9,234 9,577 19,13 16,901 0 3,552 1,024 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS Accrued income taxes 400 309 Liabilities held for sale 58 TOTAL CURRENT LIABILITIES 32,37 27,811 4 LONG-TERM DEBT 19,06 19,154 3 OTHER LIABILITIES 4,389 3,498 DEFERRED INCOME TAXES 5,636 6,152 THE COCA-COLA COMPANY SHAREOWNERS' EQUITY Common stock, $0.25 par value; Authorized 11,200 shares; Issued 7,040 and 7,040 shares, respectively 1,760 1,760 Capital surplus 13,15 12,276 4 Reinvested earnings 63,40 61,660 8 Accumulated other comprehensive income (loss) (5,777 (3,432) ) Treasury stock, at cost 2,674 and 2,638 shares, respectively (42,22 (39,09 5) 1) EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCACOLA COMPANY EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS TOTAL EQUITY TOTAL LIABILITIES AND EQUITY 30,32 33,173 0 241 267 30,56 33,440 1 $ $ 92,02 90,055 3 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2014 2013 2012 (In millions) OPERATING ACTIVITIES Consolidated net income $ $ $ 7,124 8,626 9,086 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS Depreciation and amortization Stock-based compensation expense 1,976 1,977 1,982 209 227 259 (40) 648 632 Equity (income) loss net of dividends (371) (201) (426) Foreign currency adjustments 415 168 (130) Significant (gains) losses on sales of assets net 831 (670) (98) Other operating charges 761 465 166 Other items 149 234 254 Net change in operating assets and liabilities (439) (932) (1,080 ) Deferred income taxes Net cash provided by operating activities 10,61 10,542 10,645 5 INVESTING ACTIVITIES Purchases of investments (17,80 (14,78 (14,82 0) 2) 4) Proceeds from disposals of investments 12,98 12,791 7,791 6 Acquisitions of businesses, equity method investments and nonmarketable securities (389) (353) (1,486 ) Proceeds from disposals of businesses, equity method investments and nonmarketable securities 148 872 Purchases of property, plant and equipment 20 (2,406 (2,550 (2,780 ) ) ) Proceeds from disposals of property, plant and equipment 223 111 143 Other investing activities (268) (303) (268) Net cash provided by (used in) investing activities (7,506 (4,214 (11,40 ) ) 4) FINANCING ACTIVITIES Issuances of debt 41,67 43,425 42,791 4 Payments of debt (36,96 (38,71 (38,57 2) 4) 3) THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS Issuances of stock 1,532 1,328 1,489 Purchases of stock for treasury (4,162 (4,832 (4,559 ) ) ) Dividends (5,350 (4,969 (4,595 ) ) ) Other financing activities Net cash provided by (used in) financing activities EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (363) 17 100 (3,631 (3,745 (3,347 ) ) ) (934) (611) (255) CASH AND CASH EQUIVALENTS Net increase (decrease) during the year Balance at beginning of year Balance at end of year (1,456 1,972 (4,361 ) ) 10,41 8,442 12,803 4 $ $ $ 8,958 10,414 8,442 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREOWNERS' EQUITY Year Ended December 31, 2014 2013 2012 (In millions except per share data) EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY NUMBER OF COMMON SHARES OUTSTANDING Balance at beginning of year Purchases of treasury stock Treasury stock issued to employees related to stock compensation plans Balance at end of year COMMON STOCK 4,402 4,469 4,526 (98) (121) (121) 62 54 64 4,366 4,402 4,469 $ $ $ 1,760 1,760 1,760 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREOWNERS' EQUITY CAPITAL SURPLUS Balance at beginning of year 12,27 11,379 10,332 6 Stock issued to employees related to stock compensation plans 526 569 640 Tax benefit (charge) from stock compensation plans 169 144 144 209 227 259 (26) (43) 4 Stock-based compensation Other activities Balance at end of year 13,15 12,276 11,379 4 REINVESTED EARNINGS Balance at beginning of year 61,66 58,045 53,621 0 Net income attributable to shareowners of The Coca-Cola Company 7,098 8,584 9,019 Dividends (per share $1.22, $1.12 and $1.02 in 2014, 2013 and 2012, respectively) (5,350 (4,969 (4,595 ) ) ) Balance at end of year 63,40 61,660 58,045 8 ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Balance at beginning of year Net other comprehensive income (loss) Balance at end of year (3,432 (3,385 (2,774 ) ) ) (2,345 ) (47) (611) (5,777 (3,432 (3,385 ) ) ) TREASURY STOCK Balance at beginning of year Stock issued to employees related to stock compensation plans Purchases of treasury stock (39,09 (35,00 (31,30 1) 9) 4) 891 745 786 (4,025 (4,827 (4,491 ) ) ) THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREOWNERS' EQUITY Balance at end of year TOTAL EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY (42,22 (39,09 (35,00 5) 1) 9) $ $ $ 30,32 33,173 32,790 0 EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS Balance at beginning of year $ 267 $ 378 $ 286 26 42 67 (5) (3) 38 (25) (58) (48) (34) (15) 6 (22) 25 50 Deconsolidation of certain entities (89) TOTAL EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS $ 241 $ 267 $ 378 Net income attributable to noncontrolling interests Net foreign currency translation adjustment Dividends paid to noncontrolling interests Acquisition of interests held by noncontrolling owners Contributions by noncontrolling interests Business combinations