The following revenue data were taken from the December 31, 2017, Coca-Cola annual report (10-K):2017 (in millions)Europe,Middle East,AfricaLatinAmericaNorthAmericaAsiaPacificBottleInvestmentsOutside sales$7,332 $3,956 $8,651 $4,767 $10,524 Intersegment sales42 73 1,986 409 81 Total sales$7,374 $4,029 $10,637 $5,176 $10,605 2016 (in millions)Europe,Middle East,AfricaLatinAmericaNorthAmericaAsiaPacificBottleInvestmentsOutside sales$7,014 $3,746 $6,437 $4,788 $19,751 Intersegment sales264 73 3,773 506 134 Total sales$7,278 $3,819 $10,210 $5,294 $19,885 For each segment and each year, calculate intersegment sales (another name for transfer sales) as a percentage of total sales. Round your answers to one decimal place.Intersegment Sales as a % of Total Sales Europe,Middle East,AfricaLatinAmericaNorthAmericaAsiaPacificBottleInvestments2017fill in the blank 1%fill in the blank 2%fill in the blank 3%fill in the blank 4%fill in the blank 5%2016fill in the blank 6%fill in the blank 7%fill in the blank 8%fill in the blank 9%fill in the blank 10%Which of the following statements best describes your results?a.All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in Latin America was insignificant.b.All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in North America was insignificant.c.All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in Asia Pacific was insignificant.d.All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in Europe, Middle East, and Africa was insignificant.

The total sales revenues are reported in the income statement of the company. The income statement…

Answered: The following revenue data were taken…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter5: Income Statement: Reporting The Results Of Operating Activities

Section: Chapter Questions

Problem 26P

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The following revenue data were taken from the December 31, 2017, Coca-Cola annual report (10-K):

2017 (in millions)	Europe, Middle East, Africa	Latin America	North America	Asia Pacific	Bottle Investments
Outside sales	$7,332	$3,956	$8,651	$4,767	$10,524
Intersegment sales	42	73	1,986	409	81
Total sales	$7,374	$4,029	$10,637	$5,176	$10,605

2016 (in millions)	Europe, Middle East, Africa	Latin America	North America	Asia Pacific	Bottle Investments
Outside sales	$7,014	$3,746	$6,437	$4,788	$19,751
Intersegment sales	264	73	3,773	506	134
Total sales	$7,278	$3,819	$10,210	$5,294	$19,885

For each segment and each year, calculate intersegment sales (another name for transfer sales) as a percentage of total sales. Round your answers to one decimal place.

Intersegment Sales as a % of Total Sales
	Europe, Middle East, Africa	Latin America	North America	Asia Pacific	Bottle Investments
2017	fill in the blank 1%	fill in the blank 2%	fill in the blank 3%	fill in the blank 4%	fill in the blank 5%
2016	fill in the blank 6%	fill in the blank 7%	fill in the blank 8%	fill in the blank 9%	fill in the blank 10%

Which of the following statements best describes your results?

a.	All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in Latin America was insignificant.
b.	All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in North America was insignificant.
c.	All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in Asia Pacific was insignificant.
d.	All four geographic regions' intersegment sales as a percentage of total sales decreased from 2016 to 2017, but the decrease in Europe, Middle East, and Africa was insignificant.

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