PepsiCo's financial statements are presented in Appendix B. 

Financial statements of The Coca-Cola Company are presented in Appendix C. The complete annual reports of PepsiCo and Coca-Cola, including the notes to the financial statements, are available at each company's respective website.

Instructions

a. Compute earnings per share and return on common stockholders' equity for both companies for 2019. Assume PepsiCo's weighted-average shares were 1,399 million and Coca Cola's weighted average shares were 4,276 million. Can these measures be used to compare the profitability of the two companies? Why or why not?
b. What was the total amount of dividends paid by each company in 2019?

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Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 28, 2019, December 29, 2018 and December 30, 2017 (in millions except per share amounts) Net Revenue Cost of sales Gross profit Selling, general and administrative expenses Operating Profit Other pension and retiree medical benefits (expense)/income Interest expense Interest income and other Income before income taxes Provision for/(benefit from) income taxes (See Note 5) Net income Less: Net income attributable to noncontrolling interests Net Income Attributable to PepsiCo Net Income Attributable to PepsiCo per Common Share Basic Diluted Weighted-average common shares outstanding Basic Diluted 2019 $ 67,161 30,132 37,029 26,738 10,291 (44) (1,135) 200 9,312 1,959 7,353 39 $7,314 $5.23 $ 5.20 1,399 1,407 2018 $ 64,661 29,381 35,280 25,170 10,110 298 (1,525) 306 9,189 (3,370) 12,559 44 $12,515 $ 8.84 $ 8.78 1,415. 1,425 2017 $ 63,525 28,796 34,729 24,453 10,276 233 (1,151) 244 9,602 4,694 4,908 51 $4,857 $ $ 3.40 3.38 1,425 1,438