Question

Tesla Inc.
Consolidated Balance Sheets
(in thousands, except per share data)	31 Dec '17	31 Dec '16	31 Dec '15	31 Dec '14	31 Dec '13	31 Dec '12	31 Dec '11
Total assets	28,655	22,664	8,068	5,831	2,417	1,114	713
Total current assets	6,571	6,260	2,782	3,180	1,266	525	373
Cash and cash equivalents	3,368	3,393	1,197	1,906	846	202	255
Short-term marketable securities	--	--	--	--	--	--	25
Restricted cash and marketable securities	155	106	23	18	3	19	23
Accounts receivable	515	499	169	227	49	27	10
Inventory	2,264	2,067	1,278	954	340	269	50
Prepaid expenses and other current assets	268	194	116	76	28	8	9
Operating lease vehicles, net	4,117	3,134	1,791	767	382	10	12
Solar energy systems, leased and to be leased, net	6,347	5,920	0	--	--	--	--
Property, plant and equipment, net	10,028	5,983	3,403	1,829	738	552	298
Intangible assets, net	422	376	13	--	--	--	--
Intangible assets, net excluding goodwill	362
Goodwill	60
MyPower customer notes receivable, net of current portion	457	506	0	--	--	--	--
Restricted cash	442	268	32	11	6	5	8
Other assets, net	273	217	47	43	24	22	22
Total liabilities and stockholders equity	28,655	22,664	8,068	5,831	2,417	1,114	713
Total liabilities	23,023	16,750	6,937	4,861	1,750	989	489
Total current liabilities	7,675	5,827	2,811	2,107	675	539	191
Accounts payable and accrued liabilities	4,122	3,070	1,339	1,047	412	343	88
Accounts payable	2,390	1,860	916	778	304	303	56
Accrued liabilities	1,731	1,210	423	269	108	40	32
Deferred revenue	1,015	763	424	192	92	2	2
Capital lease obligations		--	--	--	8	4	1
Resale value guarantees	797	180	137	0	--	--	--
Customer deposits	854	664	283	258	163	139	92
Convertible senior notes and other debt		--	--	--	0	0	--
Current portion of long-term debt and capital leases	897	1,150	628	611	--	51	8
Current portion of long-term debt and capital leases excluding current portion of solar bonds issued to related parties	797	984	628	611	--	51	8
Current portion of solar bonds issued to related parties	100	166	0	--	--	--	--
Long-term debt and capital leases	9,418	5,970	2,021	1,819	586	401	268
Long-term debt and capital leases, net of current portion	9,416	5,860	2,021	--	--	401	--
Convertible senior notes and other debt	3	10	0	--	586	0	--
Solar bonds issued to related parties, net of current portion	0	99	0	--	--	--	--
Common stock warrant liability		--	--	--	--	11	9
Capital lease obligations - non current	--	--	--	--	13	10	3
Deferred revenue - non current	1,178	852	446	292	181	3	3
Capital lease obligations
Other long-term liabilities	4,752	4,102	1,659	643	294	25	15
Resale value guarantees	2,309	2,210	1,294	488	236	0	--
Other long-term liabilities excluding resale value guarantees	2,443	1,891	365	155	58	25	15
Redeemable noncontrolling interests in subsidiaries	398	367	0	--	--	--	--
Convertible senior notes	0	9	47	58	0	--	--
Total stockholders equity	4.237	4,753	1,084	912	667	125	224
Preferred stock	0	0	0	0	0	0	0
Common stock	0	0	0	0	0	0	0
Additional paid-in capital	9,178	7,774	3,409	2,345	1,807	1,190	893
Accumulated deficit	-4,941	-3,021	-2,326	-1,434	-1,140	-1,066	-669
Accumulated other comprehensive loss	33	-24	-4	-0	--	--	-0
Accumulated deficit excluding accumulated other comprehensive loss	-4,977	-2,997	-2,322	-1,434	--	--	-669
Noncontrolling interests in subsidiaries	997	785	0	--	--	--	--

	Tesla, Inc.
	Consolidated Statements of Operations
(in thousands, except per share data)		31 Dec ‘17	31 Dec '16	31 Dec '15	31 Dec '14	31 Dec '13	31 Dec '12	31 Dec '11	31 Dec '10
Total revenues		11,759	7,000	4,046	3,198	2,014	413	204	117
Total automotive revenue		9,641	6,351	3,741	3,007	1,922	386	149	97
Automotive		9,641	6,351	3,741	3,007	1,922	386	149	97
Automotive excluding automotive leasing		8,535	5,589	3,432	2,874	--	--	--	--
Automotive leasing		1,107	762	309	133	--	--	--	--
Services and other		2,117	649	305	191	92	28	56	20
Energy generation and storage		1,116	181	14	4	--	--	--	--
Services and other excluding energy generation and other		1,001	468	291	187	--	--	--	--
Total cost of revenues		-9,536	-5,401	-3,123	-2,317	-1,557	-383	-143	-86
Total automotive cost of revenues		-7,433	-4,750	-2,823	-2,146	-1,483	-372	-115	-80
Automotive		-7,433	-4,750	-2,823	-2,146	-1,483	-372	-115	-80
Automotive excluding automotive leasing		-6,724	-4,268	-2,640	-2,058	--	--	--	--
Automotive leasing		-708	-482	-183	-87	--	--	--	--
Services and other		-2,104	-651	-299	-171	-74	-12	-27	-6
Energy generation and storage		-875	-178	-12	-4	--	--	--	--
Services and other excluding energy generation and storage		-1,229	-472	-287	-167	--	--	--	--
Gross profit		2,222	1,599	924	882	456	30	62	31
Total operating expenses		-3,855	-2,267	-1,640	-1,068	-518	-424	-313	-178
Research and development		-1,378	-834	-718	-465	-232	-274	-209	-93
Selling, general and administrative		-2,477	-1,432	-922	-604	-286	-150	-104	-85
Loss from operations		-1,632	-667	-717	-187	-61	-394	-251	-147
Interest income		20	9	2	1	0	0	0	0
Interest expense		-471	-199	-119	-101	-33	-0	-0	-1
Other income / expense, net		-125	111	-42	2	23	-2	-3	-7
Loss / income before income taxes		-2,209	-746	-876	-285	-71	-396	-254	-154
Provision for income taxes		-32	-27	-13	-9	-3	-0	-0	-0
Net loss / income		-2,241	-773	-889	-294	-74	-396	-254	-154
Net income / loss attributable to noncontrolling interests and redeemable noncontrolling interest		279	98	0	0	--	--	--	--
Net income / loss attributable to common stockholders		-1,961	-675	-889	-294	-74	-396	-254	-154
Per share
Basic		-11.83	-4.68	-6.93	-2.36	-0.62	-3.69	-2.53	-3.04
Diluted		-11.83	-4.68	-6.93	-2.36	-0.62	-3.69	-2.53	-3.04
Weighted average shares
Basic		165.8	144.2	128.2	124.5	119.4	107.3	100.4	50.7
Diluted		165.8	144.2	128.2	124.5	119.4	107.3	100.4	50.7

Income statement:

Did Sales of Tesla increase (decrease) in the last 3 years of operations? Provide specific amounts and percentage.

Did Net Income of Tesla increase (decrease) in the last 3 years of operations? Provide specific amounts and percentage.

In your opinion, what business activities were responsible for sales growth (decline)?

Do income statements of your company have Cost of Goods Sold? (Hint: Often companies use different terminology when they report COGS, for example Cost of Revenues).

What percentage of Sales does COGS constitute?

Did this percentage increase (decrease) in the last three years of the operations?

Why do you think this happen?

List three other major expenses (after COGS) of the company.

What percentage of sales do they constitute?

Did these percentage increase (decrease) in the last three years of operations?

In your opinion, what business activities were responsible for observed dynamics?

Do you think this was beneficial (detrimental) for your business?

Answer 1

Did Sales of Tesla increase (decrease) in the last 3 years of operations? Provide specific amounts and percentage
(in thousands, except per share data)	31 Dec ‘17	31 Dec '16	31 Dec '15	31 Dec '14
Total revenues	11,759	7,000	4,046	3,198
Increase Amount	4,759	2,954	848
Increase Percentage	68%	73%	27%
Ans: Yes the Sales have increased every year in the last 3 year every year by 4,759 (68%) in 2017, by 2,954 (73%) in 2016 & 848(27%) in 2015.
Did Net Income of Tesla increase (decrease) in the last 3 years of operations? Provide specific amounts and percentage
	31 Dec ‘17	31 Dec '16	31 Dec '15	31 Dec '14
Net loss / income	-2241	-773	-889	-294
Incease/Decrease in Net Profit	-1468	116	-595
Incease/Decrease in Net Profit %	190%	-13%	202%
Ans: The profit has decreased by 1,468(190%) in 2017, increased by 116( 13%) in 2016 & decreased by 595(202%) in 2015
In your opinion, what business activities were responsible for sales growth (decline)
Both the business activities i.e Automative business as well as Services and other were responsible for the sales growth.
Do income statements of your company have Cost of Goods Sold
Yes, the company has cost of goods sold, the terminology used is cost of revenues
What percentage of Sales does COGS constitute?
(in thousands, except per share data)		31 Dec ‘17	31 Dec '16	31 Dec '15	31 Dec '14	31 Dec '13	31 Dec '12	31 Dec '11	31 Dec '10
Total revenues		11759	7000	4046	3198	2014	413	204	117
Cost of Goods Sold		9536	5401	3123	2317	1557	383	143	86
% age of COGS of Goods=		81%	77%	77%	72%	77%	93%	70%	74%
Did this percentage increase (decrease) in the last three years of the operations? Why do you think this happen
The percentage has increased in Year 2017, remained constant in 2016 & increased in 2015. More cost was incurred for providing the services.
List three other major expenses (after COGS) of the company
Three Major Expense after COGS are operating Expenses, Research & development & Selling, general & administrative expenses.
What percentage of sales do they constitute
(in thousands, except per share data)		31 Dec ‘17	31 Dec '16	31 Dec '15	31 Dec '14	31 Dec '13	31 Dec '12	31 Dec '11	31 Dec '10
Total revenues		11759	7000	4046	3198	2014	413	204	117
Total operating expenses		3855	2267	1640	1068	518	424	313	178
Research and development		1378	834	718	465	232	274	209	93
Selling, general and administrative		2477	1432	922	604	286	150	104	85
Major Cost after COGS		7710	4533	3280	2137	1036	848	626	356
Percentage of Sales=		66%	65%	81%	67%	51%	205%	307%	304%
Did these percentage increase (decrease) in the last three years of operations?
The percentage has Increased in 2017, Decreased in 2016 & increased in 2015
In your opinion, what business activities were responsible for observed dynamics?
Ans: All the expenses has increased dynamically in comparison to the sales of the organisation
Do you think this was beneficial (detrimental) for your business?
Ans: These have been detrimental to organisation.
Note-
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