Response to the following problem:
At the end of 2002, the Coca-Cola Company had total assets of $24.5 billion and total liabilities of $12.7 billion. Included among the assets were property, plant, and equipment with a cost of $9.0 billion and accumulated depreciation of $3.1 billion. During 2002, Coca-Cola earned total revenues of $20.2 billion and had total expenses of $17.1 billion.
Required:
1. Show how Coca-Cola reported property, plant, and equipment on its balance sheet at December 31, 2002. What was the book value of property, plant, and equipment on that date?
2. How much was Coca-Cola's owners' equity at December 31, 2002?
3. Did Coca-Cola report net income or net loss on its 2002 income statement? Compute the amount.