The following items were taken from a recent income statement of PepsiCo:

Required
Perform a horizontal analysis on each account. Round percentages to one decimal point (i.e., 10.1%). What conclusions can you make about PepsiCo?

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Current Year Prior Year $39,474 18,038 Net sales Cost of sales Selling and administrative expenses Operating income Other income Income before taxes Provision for income taxes Net income $43,251 20,351 15,965 6,935 86 7,021 1,879 5,142 14,266 7,170 461 7,631 1,973 5,658