The financial statements of PepsiCo, Inc. are presented in Appendix A at the end of this textbook.

Instructions
Answer the following questions using PepsiCo’s Consolidated Statement of Income.
  (a) What was the percentage change in (1) sales and in (2) net income from 2007 to 2008 and from 2008 to 2009?
  (b) What was the company’s gross profit rate in 2007, 2008, and 2009?
  (c) What was the company’s percentage of net income to net sales in 2007, 2008, and 2009 Comment on any trend in this percentage.