In early 2013, Pepsi reported revenues of $65.64 billion with earnings available for common stockholders of $6.12 billion. Pepsi s total assets at the time were $74.64 billion. Meanwhile, one of Pepsi s competitors, Dr. Pepper, reported sales of $6.01 billion with earnings of $0.63 billion. Dr. Pepper had assets of $8.87 billion. Which company was more profitable? Why is it hard to get a clear answer to this question?
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