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Following are summarized 2020 and 2019 income statements and balance sheets for The Coca-Cola Company. \begin{tabular}{|l|r|r|} \hline Income before taxes & 9,943 & 11,002 \\ \hline Income taxes & 2,021 & 1,837 \\ \hline Consolidated net income & $7,922 & $9,165 \\ \hline \end{tabular} \begin{tabular}{l} THE COCA-COLA COMPANY AND SUBSIDIARIES \\ ConsolidatedBalanceSheets($millions) \\ \hline \end{tabular} 4. Interpret your results for Coca Cola in comparison to those of PepsiCo (which follow). \begin{tabular}{|r|r|r|r|} \hline Amount 1 Amount 2 & = ROA \\ \hline PM & AT & \\ \hline 0 & & = & 0 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|} \hline ($millions) & & Numerator & 1 & Denominator & & ROA \\ \hline ROA: & & & I & & = & \\ \hline & $ & 0 & Is & 0 & = & \\ \hline \end{tabular} 3. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline (Smillions) & & Numerator & 1 & & Denominator & = & PPET \\ \hline PPET: & & & I & & & & \\ \hline & 5 & 0 & l & $ & 0 & a & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline Current assets & & \\ \hline Cash and cash equivalents & $6,934 & $6,608 \\ \hline Short-term investments & 1,806 & 1,496 \\ \hline Marketable securities & 2,395 & 3,293 \\ \hline Trade accounts receivable, net & 3,207 & 4,050 \\ \hline Inventories & 3,331 & 3,447 \\ \hline Prepaid expenses and other assets & 1,954 & 1,924 \\ \hline Total current assets & 19,627 & 20,818 \\ \hline Equity method investments & 19,658 & 19,406 \\ \hline Other investments & 828 & 871 \\ \hline Other assets & 6,308 & 6,197 \\ \hline Deferred income tax assets & 2,509 & 2,460 \\ \hline Property, plant, and equipment, net & 10,993 & 11,055 \\ \hline Trademarks with indefinite lives & 10,603 & 9,451 \\ \hline Goodwill & 17.856 & 17,099 \\ \hline Other intangible assets & 662 & 751 \\ \hline Total assets & $89,044 & $88,108 \\ \hline Liabilities and equity & & \\ \hline Current liabilities & & \\ \hline Accounts payable and accrued expenses & $11,368 & $11,538 \\ \hline Loans and notes payable & 2,227 & 11,214 \\ \hline Current maturities of long-term debt & 495 & 4,338 \\ \hline Accrued income taxes & 804 & 422 \\ \hline Total current liabilities & 14,894 & 27.512 \\ \hline Long-term debt & 40,928 & 28,066 \\ \hline Other liabilities & 9,642 & 8,680 \\ \hline Deferred income tax liabilities & 1,870 & 2,330 \\ \hline Total liabilities & 67,334 & 66,588 \\ \hline Total equity & 21,710 & 21,520 \\ \hline Total liabilities and equity & $89,044 & $88,108 \\ \hline \end{tabular}

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