On the Tesla Financials, perform the following tasks. Choose the balance sheet item from the drop-down list
Question:
On the Tesla Financials, perform the following tasks.
- Choose the balance sheet item from the drop-down list that corresponds to the concept of retained earnings in the course material.
- Calculate the taxes in each projection year in the income statement.
- Calculate the net loss/income for each projection year in the income statement.
- Copy and paste (special) the historical net loss/income values only from cells B33:F33 to cells B36:F36.
- Calculate the future value of the 2015 net loss/income as of 2019, using the cost of capital (WACC). (Hint: this is a basic future value of a lump sum problem in which you can think of the year 2015 as Time 0 on your timeline and 2019 as Time 4).
- Calculate Tesla's total assets for each projection year. Hint: be careful not to double-count accounts!
- In the Total Current Assets row, add together all the current assets for each year.
- Create a line chart for the Net Loss/Income from the years 2015 through 2019.
Tesla Inc | |||||||
TSLA | |||||||
FactSet Fundamentals | Projected | Projected | |||||
INCOME STATEMENT | 31 DEC '15 | 31 DEC '16 | 31 DEC '17 | 31 DEC '18 | 31 DEC '19 | 31 DEC '20F | 31 DEC '21F |
Total revenues | 4,046 | 7,000 | 11,759 | 21,461 | 24,578 | 29,494 | 35,392 |
Total automotive revenue | 3,741 | 6,351 | 9,641 | 18,515 | 20,821 | 24,985 | 29,982 |
Automotive | 3,741 | 6,351 | 9,641 | 18,515 | 20,821 | 24,985 | 29,982 |
Automotive excluding automotive leasing | - | 5,589 | 8,535 | 17,632 | 19,952 | 23,942 | 28,731 |
Automotive leasing | - | 762 | 1,107 | 883 | 869 | 1,043 | 1,251 |
Services and other | 305 | 649 | 2,117 | 2,946 | 3,757 | 4,508 | 5,410 |
Energy generation and storage | - | 181 | 1,116 | 1,555 | 1,531 | 1,837 | 2,205 |
Services and others excluding energy generation and other | - | 468 | 1,001 | 1,391 | 2,226 | 2,671 | 3,205 |
Total cost of revenues | -3,123 | -5,401 | -9,536 | -17,419 | -20,509 | -24,611 | -29,533 |
Total automotive cost of revenues | -2,823 | -4,750 | -7,433 | -14,174 | -16,398 | -19,678 | -23,613 |
Automotive | -2,823 | -4,750 | -7,433 | -14,174 | -16,398 | -19,678 | -23,613 |
Automotive excluding automotive leasing | - | -4,268 | -6,724 | -13,686 | -15,939 | -19,127 | -22,952 |
Automotive leasing | - | -482 | -708 | -488 | -459 | -551 | -661 |
Services and other | -299 | -651 | -2,104 | -3,245 | -4,111 | -4,933 | -5,920 |
Energy generation and storage | - | -178 | -875 | -1,365 | -1,341 | -1,609 | -1,931 |
Services and others excluding energy generation and storage | - | -472 | -1,229 | -1,880 | -2,770 | -3,324 | -3,989 |
Gross profit | 924 | 1,599 | 2,222 | 4,042 | 4,069 | 4,883 | 5,859 |
Total operating expenses | -1,640 | -2,267 | -3,855 | -4,430 | -4,138 | -4,966 | -5,959 |
Research and development | -718 | -834 | -1,378 | -1,460 | -1,343 | -1,612 | -1,934 |
Selling, general and administrative | -922 | -1,432 | -2,477 | -2,834 | -2,646 | -3,175 | -3,810 |
Restructuring and other | - | - | - | -135 | -149 | -179 | -215 |
Loss from operations | -717 | -667 | -1,632 | -388 | -69 | -83 | -99 |
Interest income | 2 | 9 | 20 | 25 | 44 | 53 | 63 |
Interest expense | -119 | -199 | -471 | -663 | -685 | -822 | -986 |
Other income/expense, net | -42 | 111 | -125 | 22 | 45 | 54 | 65 |
Loss/income before income taxes | -876 | -746 | -2,209 | -1,005 | -665 | -798 | -958 |
Provision for income taxes | -13 | -27 | -32 | -58 | -110 | ||
Net loss / income | -889 | -773 | -2,241 | -1,063 | -775 |
Copy of net loss/income |
The future value in 2019 of 2015's net loss |
Tax Rate | 17% |
WACC | 12% |
Retained earnings? |
TSLA | |||||||
FactSet Fundamentals | Projected | Projected | |||||
BALANCE SHEET | 31 DEC '15 | 31 DEC '16 | 31 DEC '17 | 31 DEC '18 | 31 DEC '19 | 31 DEC '20F | 31 DEC '21F |
Total assets | 8,092 | 22,664 | 28,655 | 29,740 | 34,309 | ||
Total current assets | 2,792 | 6,260 | 6,571 | 8,306 | 12,103 | ||
Cash and cash equivalents | 1,197 | 3,393 | 3,368 | 3,686 | 6,268 | 7,522 | 9,026 |
Short-term marketable securities | - | - | - |
Accounting What the Numbers Mean
ISBN: 978-0073527062
9th Edition
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,