THE COCA-COLA COMPANY AND SUBS
| THE COCA-COLA COMPANY ANDSUBSIDIARIES | |||||
| CONSOLIDATED STATEMENTS OFINCOME | |||||
| Year Ended December 31, | 2008 | 2007 | 2006 | ||
| (In millions except per share data) | |||||
| NET OPERATING REVENUES | $31,944 | $ 28,857 | $ 24088 | ||
| Cost of goods sold | 11,374 | 10,406 | 8,164 | ||
| GROSS PROFIT | 20,570 | 18,451 | 15,924 | ||
| Selling, general and administrative expenses | 11,774 | 10,945 | 9,431 | ||
| Other operating charges | 350 | 254 | 185 | ||
| OPERATING INCOME | 8,446 | 7,252 | 6,308 | ||
| Interest income | 333 | 236 | 193 | ||
| Interest expense | 438 | 456 | 220 | ||
| Equity income (loss) — net | (874) | 668 | 102 | ||
| Other income (loss) — net | (28) | 173 | 195 | ||
| INCOME BEFORE INCOME TAXES | 7,439 | 7,873 | 6,578 | ||
| Income taxes | 1,632 | 1,892 | 1,498 | ||
| NET INCOME | $ 5,807 | $ 5,981 | $ 5,080 | ||
| BASIC NET INCOME PER SHARE | $ 2.51 | $ 2.59 | $ 2.16 | ||
| DILUTED NET INCOME PER SHARE | $ 2.49 | $ 2.57 | $ 2.16 | ||
| AVERAGE SHARES OUTSTANDING | 2,315 | 2,313 | 2,348 | ||
| Effect of dilutive securities | 21 | 18 | 2 | ||
| AVERAGE SHARES OUTSTANDING ASSUMINGDILUTION | 2,336 | 2,331 | 2,350 | ||
Refer to Notes to Consolidated Financial Statements.
Review Coca-Cola’s financial statements and answer the followingquestions:
1. How are Coke’s numbers reported (in whatdenomination)?
For items 2-4, enter the answers as presented (e.g. $24,088not $24,088,000).
2. What is Coke’s net operating revenue for2008?$
3. What is Coke’s cost of goods sold for2008?$
4. What is Coke’s net income 2008?$
5. What is Coke’s percent of interest expenseto net operating revenue on its 2008 income statement? Roundingyour answer to two decimal places.%
6. What is Coke’s percent of increase in netoperating revenue from 2007 to 2008? Rounding your answer to onedecimal place.%
Answer:
Question 1:
How are Coke’s number reported?
| Coke’s numbers are reported in million dollarsexcept per share data. Per share data is reported in actual dollarnumbers. |
Question 2:
What is Coke’s net operating revenue for 2008?
| Net Operating revenue for 2018 =$31,944 |
Question 3:
What is Coke’s cost of goods sold for 2008?
| Coke’s cost of goods sold =$11,374 |
Question 4:
What is Coke’s net Income 2008?
| Coke’s Net Income 2008 =$5,807 |
Question 5:
What is Coke’s percent of interest expense to net operatingrevenue on its 2008 income statement?
Interest expense = $438
Net operating revenue = $31,944
| Percent of interest expense to netoperating revenue 2008 = $438 / $31,944 * 100 =1.37% |
Question 6:
What is Coke’s percent of increase in net operating revenue from2007 to 2008?
Net operating revenue 2007 = $28,857
Net operating revenue 2008 = $31,944
|
Coke’ percent of increase in net operating revenue from 2007 to2008 = ($31,944 – $28,857) / $28,857 * 100 = $3,087 / $28,857 * 100 = 10.7% |
All the best…
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