Construct the market value balance sheets for Tesla on June $21,2016,$ use market value of debt and equity and book value of minority equity interest. Treat minority equity interest as a type of liability $($on the right$-$hand side of MVBS$)$ other than debt and equity. For $$simplicity$,$assume $$outstanding $$share $$is $$as $$of $$the June $30.$the stock price as of June $21$ is $$219\mathrm{.}61($million$).$ Exhibit $5$ Composition and Market Value of Tesla Outstanding Debt $($ $ millions$)$For $$simplicity$,$assume $$the outstanding $$share $$is $$as $$of $$June $30.$

Source: Capital IQ$,$ Datastream, and casewriter estimates.

Notes: $[1]$ Analysis assumes that the market value of the revolving credit facility equals par value because it was secured.

$[2]$ Par value of total debt instruments does not equal the sum of current maturities of long$-$term debt and long$-$term

debt outstanding reported in Exhibit $3.$ In its financial statements, Tesla reported the option component of its

convertible debt as an equity item.

Exhibit $3$ Tesla Balance Sheets, $2014-2016($$ millions, unless stated otherwise$)$