Revenues and expenses for PepsiCo during 2012 were $65.5 billion and $59.3 billion, respectively. The December 31,

Question:

Revenues and expenses for PepsiCo during 2012 were $65.5 billion and $59.3 billion, respectively. The December 31, 2011 and 2012 balances in retained earnings were $40.3 billion and $43.2 billion, respectively. Compute dividends paid by PepsiCo during 2012. What percentage of net income did PepsiCo pay out in dividends during 2012?