As Reported Quarterly Balance Sheet Report Date 03 31 2024 09 30 2023 06 30 2023 03 31 2023 09 30 2022 06 30 2022 03 31 2022 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter Currency USD USD USD USD USD USD USD Audit Status Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Consolidated Yes Yes Yes Yes Yes Yes Yes Scale Thousands Thousands Thousands Thousands Thousands Thousands Thousands Cash cash equivalents 11,805,000 15,932,000 15,296,000 16,048,000 19,532,000 18,324,000 17,505,000 Short term investments 15,058,000 10,145,000 7,779,000 6,354,000 Short term marketable securities 1,575,000 591,000 508,000 Accounts receivable, net Balancing value 3,042,000 Accounts receivable, net 3,887,000 2,520,000 3,447,000 2,993,000 2,192,000 2,081,000 2,311,000 Raw materials 5,584,000 5,817,000 5,968,000 6,405,000 5,381,000 4,949,000 3,822,000 Work in process 2,507,000 2,246,000 2,202,000 2,458,000 2,237,000 1,370,000 1,306,000 Finished goods 6,747,000 4,550,000 5,193,000 4,591,000 2,067,000 1,185,000 977,000 Service parts 1,195,000 1,108,000 993,000 921,000 642,000 604,000 586,000 Inventory 16,033,000 13,721,000 14,356,000 14,375,000 10,327,000 8,108,000 6,691,000 Prepaid expenses other current assets 3,752,000 2,708,000 2,997,000 3,227,000 2,364,000 2,118,000 2,035,000 Receivables Other Net 572,000 Financing receivables 241,000 Financing receivables 32,000 Total current assets 50,535,000 45,026,000 43,875,000 42,997,000 35,990,000 31,222,000 29,050,000 Operating lease vehicles, net 5,935,000 5,473,000 4,824,000 4,782,000 4,745,000 Solar energy systems, net 6,119,000 5,365,000 5,427,000 5,562,000 5,624,000 5,686,000 Solar energy systems, leased to be leased, net 5,162,000 5,293,000 Machinery, equipment office furniture 16,942,000 15,077,000 Machinery, equipment, vehicles office furniture 14,540,000 14,139,000 12,261,000 11,749,000 11,163,000 Tooling 3,480,000 2,865,000 2,763,000 2,696,000 2,468,000 2,417,000 2,345,000 Leasehold improvements 3,291,000 2,892,000 2,727,000 2,551,000 2,102,000 2,018,000 1,911,000 Land buildings 9,852,000 8,584,000 8,435,000 8,144,000 6,988,000 6,406,000 5,957,000 Computer equipment software 2,534,000 3,225,000 Computer equipment, hardware software 2,846,000 2,299,000 1,879,000 1,746,000 1,595,000 Construction in progress 5,934,000 6,341,000 5,560,000 4,894,000 4,549,000 4,544,000 4,322,000 AI infrastructure 2,255,000 Property, plant equipment, gross 44,288,000 38,984,000 36,871,000 34,723,000 30,247,000 28,880,000 27,293,000 Less accumulated depreciation amortization 9,754,000 8,321,000 7,787,000 7,266,000 Less accumulated depreciation 12,852,000 11,240,000 10,482,000 Operating lease net 5,736,000 As Reported Quarterly Income Statement Report Date 03 31 2024 09 30 2023 06 30 2023 03 31 2023 09 30 2022 06 30 2022 03 31 2022 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter Currency USD USD USD USD USD USD USD Audit Status Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Consolidated Yes Yes Yes Yes Yes Yes Yes Scale Thousands Thousands Thousands Thousands Thousands Thousands Thousands Revenues automotive sales 19,625,000 20,419,000 18,878,000 17,785,000 13,670,000 15,514,000 Revenues automotive regulatory credits 442,000 554,000 282,000 521,000 286,000 344,000 679,000 Revenues automotive leasing 567,000 564,000 621,000 588,000 668,000 Total automotive revenues 17,378,000 21,268,000 19,963,000 18,692,000 14,602,000 16,861,000 Automotive revenue 2,166,000 Development services 18,582,000 Energy generation storage 476,000 1,559,000 1,509,000 1,529,000 1,117,000 866,000 616,000 Services other revenues 2,288,000 2,150,000 1,837,000 1,645,000 1,466,000 1,279,000 Automotive leasing 16,460,000 489,000 Energy generation and storage 1,635,000 Total revenues 21,301,000 23,350,000 24,927,000 23,329,000 21,454,000 16,934,000 18,756,000 Cost of revenues automotive sales 2,207,000 2,037,000 16,841,000 15,422,000 13,099,000 10,153,000 10,914,000 Cost of revenues automotive leasing 338,000 333,000 381,000 368,000 408,000 Total automotive cost of revenues 14,166,000 17,179,000 15,755,000 13,480,000 10,521,000 11,322,000 Automotive leasing 13,897,000 1,178,000 Cost of automotive 301,000 Cost of development services 15,957,000 Cost of energy generation storage 1,232,000 1,231,000 1,361,000 1,013,000 769,000 688,000 Cost of services other cost of revenues 1,984,000 1,702,000 1,579,000 1,410,000 1,286,000 Automotive sales 269,000 15,656,000 Total cost of revenues 17,605,000 19,172,000 20,394,000 18,818,000 16,072,000 12,700,000 13,296,000 Gross profit (loss) 3,696,000 4,178,000 4,533,000 4,511,000 5,382,000 4,234,000 5,460,000 Research development expense 1,151,000 1,161,000 943,000 771,000 733,000 667,000 865,000 Selling, general administrative expense 1,374,000 1,253,000 1,191,000 1,076,000 961,000 961,000 992,000 Restructuring other expenses 142,000 Total operating expenses 2,525,000 2,414,000 2,134,000 1,847,000 1,694,000 1,770,000 1,857,000 Income (loss) from operations 1,171,000 1,764,000 2,399,000 2,664,000 3,688,000 2,464,000 3,603,000 Interest income 350,000 282,000 238,000 213,000 86,000 26,000 28,000 Interest expense 76,000 38,000 28,000 29,000 53,000 44,000 61,000 Other income (expense), net 108,000 37,000 328,000 (48,000) (85,000) 28,000 56,000 Income (loss) before income taxes 1,553,000 2,045,000 2,937,000 2,800,000 3,636,000 2,474,000 3,626,000 Provision (benefit) for income taxes 409,000 167,000 323,000 261,000 305,000 205,000 346,000 Buy out of noncontrolling interest 42,000 (2,000) Net income (loss) 1,144,000 1,878,000 2,614,000 2,539,000 3,331,000 2,269,000 3,280,000 Net income (loss) attributable to noncontrolling interests redeemable noncontrolling interests in subsidiaries (15,000) (25,000) 89,000 (26,000) (39,000) (10,000) 38,000 Net income (loss) attributable to common stockholders 1,171,000 2,703,000 2,513,000 3,292,000 2,259,000 3,318,000 Less buy out of noncontrolling interest 42,000 0 (5,000) 5,000 Net income used in computing net income per share of common stock 1,129,000 1,851,000 2,703,000 2,518,000 3,292,000 3,313,000 Weighted average shares outstanding basic 3,186,000 3,176,000 3,171,000 3,166,000 3,146,000 3,111,000 3,102,000 Weighted average shares outstanding diluted 3,484,000 3,493,000 3,478,000 3,468,000 3,468,000 3,465,000 3,471,000 Year end shares outstanding 3,189,000 3,179,000 3,174,000 3,169,000 3,158,000 3,123,000 3,108,000 Net income (loss) per share basic 0 37 0 58 0 85 0 8 1 05 0 727 1 067 Net income (loss) per share diluted 0 34 0 53 0 78 0 73 0 95 0 65 0 953 Earnings per share from continuing operations 0 37 Earnings per share from continuing operations 0 34 Comprehensive income attributable to common stockholders 1,571,000 As Reported Quarterly Cash Flow Report Date 03 31 2024 09 30 2023 06 30 2023 03 31 2023 09 30 2022 06 30 2022 03 31 2022 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter Currency USD USD USD USD USD USD USD Audit Status Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Consolidated Yes Yes Yes Yes Yes Yes Yes Scale Thousands Thousands Thousands Thousands Thousands Thousands Thousands Net income (loss) 1,144,000 7,031,000 5,153,000 2,539,000 8,880,000 5,549,000 3,280,000 Depreciation, amortization impairment 2,200,000 1,046,000 2,758,000 1,802,000 880,000 Depreciation amortization 1,246,000 3,435,000 Stock based compensation 524,000 1,328,000 863,000 418,000 1,141,000 779,000 418,000 Inventory purchase commitments write downs 68,000 361,000 217,000 50,000 118,000 58,000 33,000 Foreign currency transaction net unrealized loss (gain) (63,000) (317,000) (283,000) (25,000) 1,000 (52,000) (30,000) Non cash interest other operating activities (5,000) 94,000 59,000 15,000 159,000 52,000 16,000 Digital assets loss (gain), net 106,000 106,000 Accounts receivable (422,000) 377,000 (504,000) (32,000) (426,000) (233,000) (409,000) Inventory (2,697,000) (1,953,000) (2,116,000) (1,540,000) (4,492,000) (2,192,000) (633,000) Operating lease vehicles (12,000) (1,858,000) (1,387,000) (675,000) (1,136,000) (795,000) (462,000) Prepaid expenses other current assets (972,000) 322,000 (5,000) (79,000) (865,000) (533,000) (289,000) Other non current assets (2,655,000) (1,854,000) (729,000) (1,580,000) (1,042,000) (611,000) Accounts payable accrued liabilities 1,247,000 (24,000) 934,000 797,000 4,659,000 1,406,000 997,000 Deferred revenue 195,000 774,000 661,000 106,000 856,000 648,000 287,000 Customer deposits (95,000) 16,000 2,000 251,000 292,000 204,000 Other long term liabilities 2,066,000 1,624,000 620,000 1,016,000 501,000 314,000 Deferred income taxes (11,000) Net cash flows from operating activities 242,000 8,886,000 5,578,000 2,513,000 11,446,000 6,346,000 3,995,000 Purchases of property equipment excluding finance leases, net of sales (2,773,000) (6,592,000) (4,132,000) (2,072,000) (5,300,000) (3,497,000) (1,767,000) Maturities of short term marketable securities 138,000 Purchases of solar energy systems, net of sales (4,000) (1,000) (1,000) (5,000) (5,000) (5,000) Proceeds from sales of digital assets 936,000 936,000 Purchase of intangible assets (9,000) (9,000) (9,000) Business acquisition (64,000) Purchases of marketable securities (1,467,000) (476,000) (386,000) Purchases of investments (6,622,000) (13,221,000) (7,090,000) (2,015,000) Proceeds from maturities of investments 5,143,000 1,604,000 Proceeds from sales of investments 4,315,000 8,959,000 138,000 Proceeds from maturities of marketable securities 3,000 Business combinations, net of cash acquired (76,000) Net cash flows from investing activities (5,084,000) (10,780,000) (6,018,000) (2,484,000) (5,842,000) (3,051,000) (2,167,000) Proceeds from issuance of convertible debt 776,000 2,526,000 Repayments of convertible other debt (887,000) (543,000) (302,000) (3,000,000) (2,219,000) (1,945,000) Repayments of other debt (591,000) Collateralized lease borrowings (repayments) (3,000) (17,000) Proceeds from exercises of stock options other stock issuances 294,000 231,000 474,000 245,000 202,000 Principal payments on finance leases (106,000) (340,000) (222,000) (106,000) (369,000) (251,000) (123,000) Debt issuance costs (23,000) (13,000) (13,000) Proceeds from exercise of stock options 251,000 548,000 Distributions paid to noncontrolling interests in subsidiaries (30,000) (105,000) (67,000) (36,000) (118,000) (76,000) (42,000) Payments for buy outs of noncontrolling interests in subsidiaries (101,000) (10,000) (7,000) (19,000) (19,000) (6,000) Net cash flows from financing activities 196,000 1,702,000 (561,000) (233,000) (3,032,000) (2,320,000) (1,914,000) Effect of exchange rate changes on cash cash equivalents restricted cash (79,000) (142,000) (44,000) 50,000 (567,000) (232,000) (18,000) Net increase (decrease) in cash cash equivalents restricted cash (334,000) (1,045,000) (154,000) 2,005,000 743,000 (104,000) Cash cash equivalents restricted cash, beginning of period 16,924,000 16,924,000 16,924,000 18,144,000 18,144,000 18,144,000 Cash cash equivalents restricted cash, end of period 16,590,000 15,879,000 16,770,000 20,149,000 18,887,000 18,040,000 Cash cash equivalents at beginning of period 17,189,000 Cash cash equivalents at end of period 12,464,000 Net Change in Cash (Incl FEE) (4,725,000) As Reported Annual Balance Sheet Report Date 12 31 2023 12 31 2022 12 31 2021 Currency USD USD USD Audit Status Not Qualified Not Qualified Not Qualified Consolidated Yes Yes Yes Scale Thousands Thousands Thousands Cash cash equivalents 16,398,000 16,253,000 17,576,000 Short term marketable securities 131,000 Short term investments 12,696,000 5,932,000 Accounts receivable, net 3,508,000 2,952,000 1,913,000 Raw materials 5,390,000 6,137,000 2,816,000 Work in process 2,016,000 2,385,000 1,089,000 Finished goods 5,049,000 3,475,000 1,277,000 Service parts 1,171,000 842,000 575,000 Inventory 13,626,000 12,839,000 5,757,000 Prepaid expenses other current assets 3,388,000 2,941,000 1,723,000 Total current assets 49,616,000 40,917,000 27,100,000 Operating lease vehicles, net 5,035,000 4,511,000 Solar energy systems, leased to be leased, net 5,229,000 Solar energy systems, net 5,489,000 5,765,000 Building building improvements 9,505,000 Machinery, equipment office furniture 16,372,000 Machinery, equipment, vehicles office furniture 13,558,000 9,953,000 Tooling 3,147,000 2,579,000 2,188,000 Leasehold improvements 3,168,000 2,366,000 1,826,000 Land buildings 7,751,000 4,675,000 Computer equipment, hardware software 2,072,000 1,414,000 Computer equipment software 3,799,000 Construction in progress 5,791,000 4,263,000 5,559,000 Solar energy systems leased to customers 6,872,000 Property equipment, gross 41,782,000 32,589,000 25,615,000 Less accumulated depreciation amortization 1,643,000 Less accumulated depreciation 12,057,000 9,041,000 6,731,000 Property, plant equipment, net 29,725,000 23,548,000 18,884,000 Operating lease right of use assets 4,180,000 2,563,000 2,016,000 Digital assets, net 184,000 184,000 1,260,000 Intangible assets, net 178,000 215,000 257,000 Goodwill 253,000 194,000 200,000 Other non current assets 4,531,000 4,193,000 2,138,000 Property, Plant Equipment Leased Out Accumulated Depreciation Impairment 1,380,000 Operating lease net Balancing value 7,369,000 Operating lease net 5,989,000 Deferred tax assets 6,733,000 Total assets 106,618,000 82,338,000 62,131,000 Accounts payable 14,431,000 15,255,000 10,025,000 Accrued warranty, current portion 9,080,000 Accrued purchases 2,721,000 2,747,000 2,045,000 Taxes payable 1,204,000 1,235,000 1,122,000 Payroll related costs 1,325,000 1,026,000 906,000 Accrued warranty reserve, current portion 1,546,000 1,025,000 703,000 Sales return reserve, current portion 219,000 270,000 265,000 Operating lease liabilities, current portion 672,000 485,000 368,000 Accrued interest 16,000 Other current liabilities 517,000 354,000 294,000 Accrued liabilities other current liabilities 7,142,000 5,719,000 Deferred revenue 2,864,000 1,747,000 1,447,000 Capital lease obligations, current portion 398,000 Customer deposits 876,000 1,063,000 925,000 Current portion of debt finance leases 1,975,000 1,502,000 1,589,000 Current portion of debt and finance leases 2,373,000 Total current liabilities 28,748,000 26,709,000 19,705,000 Notes 37,000 89,000 Credit agreement 1,250,000 Solar bonds 7,000 7,000 Automotive asset backed notes 613,000 1,706,000 Solar asset loan backed notes 13,000 800,000 Cash equity debt 359,000 Cash equity debt 2,682,000 388,000 Other loans 14,000 Total debt 1,029,000 1,758,000 Finance leases 175,000 568,000 991,000 Debt finance leases, net of current portion 2,857,000 1,597,000 5,245,000 Deferred revenue, net of current portion 3,251,000 2,804,000 2,052,000 Operating lease liabilities 3,671,000 2,164,000 1,671,000 Accrued warranty reserve 3,606,000 2,480,000 1,398,000 Sales return reserve 51,000 133,000 Deferred tax liability 82,000 24,000 Other noncurrent liabilities 876,000 553,000 320,000 Other long term liabilities 8,153,000 5,330,000 3,546,000 Total liabilities 36,440,000 30,548,000 Redeemable noncontrolling interests in subsidiaries 242,000 409,000 568,000 Common stock 3,000 3,000 1,000 Additional paid in capital 34,892,000 32,177,000 29,803,000 Accumulated other comprehensive income (loss) (143,000) (361,000) 54,000 Retained earnings (accumulated deficit) 27,882,000 12,885,000 331,000 Total stockholders' equity (deficit) 62,634,000 44,704,000 30,189,000 Noncontrolling interests in subsidiaries 733,000 785,000 826,000 Total Equity 63,367,000 Scenario The CFO of your company has asked for your support in preparing a report for the business's board of directors Many of the board members are new, and some of them have little background in finance With this in mind, you will need a report that all board members can easily understand Directions For the company you chose for your final project, open the following documents The balance sheet, income statement, and cash flow statement from the latest fiscal quarter The Ratios Most Recent Fiscal Qtr worksheet in the Final Project Financial Formulas workbook (linked in the What to Submit section) example, if the latest fiscal quarter available is the third quarter in 2023, you'll compare those results to the same financial calculations from the third quarter in 2022 Use the documents to calculate key financial ratios Then open the following documents The balance sheet, income statement, and cash flow statement from the same fiscal quarter one year ago The Ratios Same Fiscal Qtr 1 Year Ago worksheet Use the documents to calculate the same financial ratios Finally, compare those ratios and analyze your results Specifically, you must address the following rubric criteria Financial Calculations Calculate accurate financial formulas to assess the business's current financial health Specifically, calculate the following formulas using the Ratios Most Recent Fiscal Qtr and the Ratios Same Fiscal Qtr 1 Year Ago worksheets in the Final Project Financial Formulas workbook Working capital Current ratio Debt ratio Earnings per share Price and earnings ratio Total asset turnover ratio Financial leverage Net profit margin Return on assets Return on equity Fiscal Quarter Comparison Summarize the differences between the following The results from your financial calculations of the most recent fiscal quarter The results of the same financial calculations of the same fiscal quarter from one year ago For example, if the most recent fiscal quarter available is the third quarter in 2023, you'll compare those results to the same financial calculations from the third quarter in 2022 Comparison Analysis Explain what your calculations and comparison show about the business's current financial health Give examples to support your explanation for the following questions Do the results show the business is financially healthy or unhealthy Which results indicate this What might be the causes of the business's financial success or failure Is more information needed to determine the business's financial health If so, which pieces of information might still be needed Short Term Financing Explain how potential short term financing sources could help the business raise funds needed to improve its financial health Base your response on the business's current financial information submit the following worksheets The Ratios Most Recent Fiscal Qtr worksheet from the Final Project Financial Formulas workbook The Ratios Same Fiscal Qtr1 Year Ago worksheet from the Final Project Financial Formulas workbook

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As Reported Quarterly Balance Sheet Report Date 03/31/2024 09/30/2023 06/30/2023 03/31/2023 09/30/2022 06/30/2022 03/31/2022 1st Quarter 3rd Quarter 2nd Quarter 1st Quarter 3rd Quarter 2nd

As Reported Quarterly Balance Sheet

Report Date	03/31/2024	09/30/2023	06/30/2023	03/31/2023	09/30/2022	06/30/2022	03/31/2022
	1st Quarter	3rd Quarter	2nd Quarter	1st Quarter	3rd Quarter	2nd Quarter	1st Quarter
Currency	USD	USD	USD	USD	USD	USD	USD
Audit Status	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
Consolidated	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Scale	Thousands	Thousands	Thousands	Thousands	Thousands	Thousands	Thousands
Cash & cash equivalents	11,805,000	15,932,000	15,296,000	16,048,000	19,532,000	18,324,000	17,505,000
Short-term investments	15,058,000	10,145,000	7,779,000	6,354,000	-	-	-
Short-term marketable securities	-	-	-	-	1,575,000	591,000	508,000
Accounts receivable, net - Balancing value	3,042,000	-	-	-	-	-	-
Accounts receivable, net	3,887,000	2,520,000	3,447,000	2,993,000	2,192,000	2,081,000	2,311,000
Raw materials	5,584,000	5,817,000	5,968,000	6,405,000	5,381,000	4,949,000	3,822,000
Work in process	2,507,000	2,246,000	2,202,000	2,458,000	2,237,000	1,370,000	1,306,000
Finished goods	6,747,000	4,550,000	5,193,000	4,591,000	2,067,000	1,185,000	977,000
Service parts	1,195,000	1,108,000	993,000	921,000	642,000	604,000	586,000
Inventory	16,033,000	13,721,000	14,356,000	14,375,000	10,327,000	8,108,000	6,691,000
Prepaid expenses & other current assets	3,752,000	2,708,000	2,997,000	3,227,000	2,364,000	2,118,000	2,035,000
Receivables - Other - Net	572,000	-	-	-	-	-	-
Financing receivables	241,000	-	-	-	-	-	-
Financing receivables	32,000	-	-	-	-	-	-
Total current assets	50,535,000	45,026,000	43,875,000	42,997,000	35,990,000	31,222,000	29,050,000
Operating lease vehicles, net	-	-	5,935,000	5,473,000	4,824,000	4,782,000	4,745,000
Solar energy systems, net	-	6,119,000	5,365,000	5,427,000	5,562,000	5,624,000	5,686,000
Solar energy systems, leased & to be leased, net	5,162,000	5,293,000	-	-	-	-	-
Machinery, equipment & office furniture	16,942,000	15,077,000	-	-	-	-	-
Machinery, equipment, vehicles & office furniture	-	-	14,540,000	14,139,000	12,261,000	11,749,000	11,163,000
Tooling	3,480,000	2,865,000	2,763,000	2,696,000	2,468,000	2,417,000	2,345,000
Leasehold improvements	3,291,000	2,892,000	2,727,000	2,551,000	2,102,000	2,018,000	1,911,000
Land & buildings	9,852,000	8,584,000	8,435,000	8,144,000	6,988,000	6,406,000	5,957,000
Computer equipment & software	2,534,000	3,225,000	-	-	-	-	-
Computer equipment, hardware & software	-	-	2,846,000	2,299,000	1,879,000	1,746,000	1,595,000
Construction in progress	5,934,000	6,341,000	5,560,000	4,894,000	4,549,000	4,544,000	4,322,000
AI infrastructure	2,255,000	-	-	-	-	-	-
Property, plant & equipment, gross	44,288,000	38,984,000	36,871,000	34,723,000	30,247,000	28,880,000	27,293,000
Less: accumulated depreciation & amortization	-	-	-	9,754,000	8,321,000	7,787,000	7,266,000
Less: accumulated depreciation	12,852,000	11,240,000	10,482,000	-	-	-	-
Operating lease net	5,736,000	-	-	-	-	-

As Reported Quarterly Income Statement

Report Date	03/31/2024	09/30/2023	06/30/2023	03/31/2023	09/30/2022	06/30/2022	03/31/2022
	1st Quarter	3rd Quarter	2nd Quarter	1st Quarter	3rd Quarter	2nd Quarter	1st Quarter
Currency	USD	USD	USD	USD	USD	USD	USD
Audit Status	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
Consolidated	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Scale	Thousands	Thousands	Thousands	Thousands	Thousands	Thousands	Thousands
Revenues - automotive sales	-	19,625,000	20,419,000	18,878,000	17,785,000	13,670,000	15,514,000
Revenues - automotive regulatory credits	442,000	554,000	282,000	521,000	286,000	344,000	679,000
Revenues - automotive leasing	-	-	567,000	564,000	621,000	588,000	668,000
Total automotive revenues	17,378,000	-	21,268,000	19,963,000	18,692,000	14,602,000	16,861,000
Automotive revenue	-	2,166,000	-	-	-	-	-
Development services	-	18,582,000	-	-	-	-	-
Energy generation & storage	476,000	1,559,000	1,509,000	1,529,000	1,117,000	866,000	616,000
Services & other revenues	2,288,000	-	2,150,000	1,837,000	1,645,000	1,466,000	1,279,000
Automotive leasing	16,460,000	489,000	-	-	-	-	-
Energy generation and storage	1,635,000	-	-	-	-	-	-
Total revenues	21,301,000	23,350,000	24,927,000	23,329,000	21,454,000	16,934,000	18,756,000
Cost of revenues - automotive sales	2,207,000	2,037,000	16,841,000	15,422,000	13,099,000	10,153,000	10,914,000
Cost of revenues - automotive leasing	-	-	338,000	333,000	381,000	368,000	408,000
Total automotive cost of revenues	14,166,000	-	17,179,000	15,755,000	13,480,000	10,521,000	11,322,000
Automotive leasing	13,897,000	1,178,000	-	-	-	-	-
Cost of automotive	-	301,000	-	-	-	-	-
Cost of development services	-	15,957,000	-	-	-	-	-
Cost of energy generation & storage	1,232,000	-	1,231,000	1,361,000	1,013,000	769,000	688,000
Cost of services & other cost of revenues	-	-	1,984,000	1,702,000	1,579,000	1,410,000	1,286,000
Automotive sales	269,000	15,656,000	-	-	-	-	-
Total cost of revenues	17,605,000	19,172,000	20,394,000	18,818,000	16,072,000	12,700,000	13,296,000
Gross profit (loss)	3,696,000	4,178,000	4,533,000	4,511,000	5,382,000	4,234,000	5,460,000
Research & development expense	1,151,000	1,161,000	943,000	771,000	733,000	667,000	865,000
Selling, general & administrative expense	1,374,000	1,253,000	1,191,000	1,076,000	961,000	961,000	992,000
Restructuring & other expenses	-	-	-	-	-	142,000	-
Total operating expenses	2,525,000	2,414,000	2,134,000	1,847,000	1,694,000	1,770,000	1,857,000
Income (loss) from operations	1,171,000	1,764,000	2,399,000	2,664,000	3,688,000	2,464,000	3,603,000
Interest income	350,000	282,000	238,000	213,000	86,000	26,000	28,000
Interest expense	76,000	38,000	28,000	29,000	53,000	44,000	61,000
Other income (expense), net	108,000	37,000	328,000	(48,000)	(85,000)	28,000	56,000
Income (loss) before income taxes	1,553,000	2,045,000	2,937,000	2,800,000	3,636,000	2,474,000	3,626,000
Provision (benefit) for income taxes	409,000	167,000	323,000	261,000	305,000	205,000	346,000
Buy-out of noncontrolling interest	42,000	(2,000)	-	-	-	-	-
Net income (loss)	1,144,000	1,878,000	2,614,000	2,539,000	3,331,000	2,269,000	3,280,000
Net income (loss) attributable to noncontrolling interests & redeemable noncontrolling interests in subsidiaries	(15,000)	(25,000)	89,000	(26,000)	(39,000)	(10,000)	38,000
Net income (loss) attributable to common stockholders	1,171,000	-	2,703,000	2,513,000	3,292,000	2,259,000	3,318,000
Less: buy-out of noncontrolling interest	42,000	-	0	(5,000)	-	-	5,000
Net income used in computing net income per share of common stock	1,129,000	1,851,000	2,703,000	2,518,000	3,292,000	-	3,313,000
Weighted average shares outstanding - basic	3,186,000	3,176,000	3,171,000	3,166,000	3,146,000	3,111,000	3,102,000
Weighted average shares outstanding - diluted	3,484,000	3,493,000	3,478,000	3,468,000	3,468,000	3,465,000	3,471,000
Year end shares outstanding	3,189,000	3,179,000	3,174,000	3,169,000	3,158,000	3,123,000	3,108,000
Net income (loss) per share - basic	0.37	0.58	0.85	0.8	1.05	0.727	1.067
Net income (loss) per share - diluted	0.34	0.53	0.78	0.73	0.95	0.65	0.953
Earnings per share from continuing operations	0.37	-	-	-	-	-	-
Earnings per share from continuing operations	0.34	-	-	-	-	-	-
Comprehensive income attributable to common stockholders	-	1,571,000	-	-	-	-	-

As Reported Quarterly Cash Flow

Report Date	03/31/2024	09/30/2023	06/30/2023	03/31/2023	09/30/2022	06/30/2022	03/31/2022
	1st Quarter	3rd Quarter	2nd Quarter	1st Quarter	3rd Quarter	2nd Quarter	1st Quarter
Currency	USD	USD	USD	USD	USD	USD	USD
Audit Status	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited	Unaudited
Consolidated	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Scale	Thousands	Thousands	Thousands	Thousands	Thousands	Thousands	Thousands
Net income (loss)	1,144,000	7,031,000	5,153,000	2,539,000	8,880,000	5,549,000	3,280,000
Depreciation, amortization & impairment	-	-	2,200,000	1,046,000	2,758,000	1,802,000	880,000
Depreciation & amortization	1,246,000	3,435,000	-	-	-	-	-
Stock-based compensation	524,000	1,328,000	863,000	418,000	1,141,000	779,000	418,000
Inventory & purchase commitments write-downs	68,000	361,000	217,000	50,000	118,000	58,000	33,000
Foreign currency transaction net unrealized loss (gain)	(63,000)	(317,000)	(283,000)	(25,000)	1,000	(52,000)	(30,000)
Non-cash interest & other operating activities	(5,000)	94,000	59,000	15,000	159,000	52,000	16,000
Digital assets loss (gain), net	-	-	-	-	106,000	106,000	-
Accounts receivable	(422,000)	377,000	(504,000)	(32,000)	(426,000)	(233,000)	(409,000)
Inventory	(2,697,000)	(1,953,000)	(2,116,000)	(1,540,000)	(4,492,000)	(2,192,000)	(633,000)
Operating lease vehicles	(12,000)	(1,858,000)	(1,387,000)	(675,000)	(1,136,000)	(795,000)	(462,000)
Prepaid expenses & other current assets	(972,000)	322,000	(5,000)	(79,000)	(865,000)	(533,000)	(289,000)
Other non-current assets	-	(2,655,000)	(1,854,000)	(729,000)	(1,580,000)	(1,042,000)	(611,000)
Accounts payable & accrued liabilities	1,247,000	(24,000)	934,000	797,000	4,659,000	1,406,000	997,000
Deferred revenue	195,000	774,000	661,000	106,000	856,000	648,000	287,000
Customer deposits	-	(95,000)	16,000	2,000	251,000	292,000	204,000
Other long-term liabilities	-	2,066,000	1,624,000	620,000	1,016,000	501,000	314,000
Deferred income taxes	(11,000)	-	-	-	-	-	-
Net cash flows from operating activities	242,000	8,886,000	5,578,000	2,513,000	11,446,000	6,346,000	3,995,000
Purchases of property & equipment excluding finance leases, net of sales	(2,773,000)	(6,592,000)	(4,132,000)	(2,072,000)	(5,300,000)	(3,497,000)	(1,767,000)
Maturities of short-term marketable securities	-	138,000	-	-	-	-	-
Purchases of solar energy systems, net of sales	(4,000)	-	(1,000)	(1,000)	(5,000)	(5,000)	(5,000)
Proceeds from sales of digital assets	-	-	-	-	936,000	936,000	-
Purchase of intangible assets	-	-	-	-	(9,000)	(9,000)	(9,000)
Business acquisition	-	(64,000)	-	-	-	-	-
Purchases of marketable securities	-	-	-	-	(1,467,000)	(476,000)	(386,000)
Purchases of investments	(6,622,000)	(13,221,000)	(7,090,000)	(2,015,000)	-	-	-
Proceeds from maturities of investments	-	-	5,143,000	1,604,000	-	-	-
Proceeds from sales of investments	4,315,000	8,959,000	138,000	-	-	-	-
Proceeds from maturities of marketable securities	-	-	-	-	3,000	-	-
Business combinations, net of cash acquired	-	-	(76,000)	-	-	-	-
Net cash flows from investing activities	(5,084,000)	(10,780,000)	(6,018,000)	(2,484,000)	(5,842,000)	(3,051,000)	(2,167,000)
Proceeds from issuance of convertible debt	776,000	2,526,000	-	-	-	-	-
Repayments of convertible & other debt	-	(887,000)	(543,000)	(302,000)	(3,000,000)	(2,219,000)	(1,945,000)
Repayments of other debt	(591,000)	-	-	-	-	-	-
Collateralized lease borrowings (repayments)	(3,000)	(17,000)	-	-	-	-	-
Proceeds from exercises of stock options & other stock issuances	-	-	294,000	231,000	474,000	245,000	202,000
Principal payments on finance leases	(106,000)	(340,000)	(222,000)	(106,000)	(369,000)	(251,000)	(123,000)
Debt issuance costs	-	(23,000)	(13,000)	(13,000)	-	-	-
Proceeds from exercise of stock options	251,000	548,000	-	-	-	-	-
Distributions paid to noncontrolling interests in subsidiaries	(30,000)	(105,000)	(67,000)	(36,000)	(118,000)	(76,000)	(42,000)
Payments for buy-outs of noncontrolling interests in subsidiaries	(101,000)	-	(10,000)	(7,000)	(19,000)	(19,000)	(6,000)
Net cash flows from financing activities	196,000	1,702,000	(561,000)	(233,000)	(3,032,000)	(2,320,000)	(1,914,000)
Effect of exchange rate changes on cash & cash equivalents & restricted cash	(79,000)	(142,000)	(44,000)	50,000	(567,000)	(232,000)	(18,000)
Net increase (decrease) in cash & cash equivalents & restricted cash	-	(334,000)	(1,045,000)	(154,000)	2,005,000	743,000	(104,000)
Cash & cash equivalents & restricted cash, beginning of period	-	16,924,000	16,924,000	16,924,000	18,144,000	18,144,000	18,144,000
Cash & cash equivalents & restricted cash, end of period	-	16,590,000	15,879,000	16,770,000	20,149,000	18,887,000	18,040,000
Cash & cash equivalents at beginning of period	17,189,000	-	-	-	-	-	-
Cash & cash equivalents at end of period	12,464,000	-	-	-	-	-	-
Net Change in Cash (Incl. FEE)	(4,725,000)	-	-	-	-	-	-

As Reported Annual Balance Sheet

Report Date	12/31/2023	12/31/2022	12/31/2021
Currency	USD	USD	USD
Audit Status	Not Qualified	Not Qualified	Not Qualified
Consolidated	Yes	Yes	Yes
Scale	Thousands	Thousands	Thousands
Cash & cash equivalents	16,398,000	16,253,000	17,576,000
Short-term marketable securities	-	-	131,000
Short-term investments	12,696,000	5,932,000	-
Accounts receivable, net	3,508,000	2,952,000	1,913,000
Raw materials	5,390,000	6,137,000	2,816,000
Work in process	2,016,000	2,385,000	1,089,000
Finished goods	5,049,000	3,475,000	1,277,000
Service parts	1,171,000	842,000	575,000
Inventory	13,626,000	12,839,000	5,757,000
Prepaid expenses & other current assets	3,388,000	2,941,000	1,723,000
Total current assets	49,616,000	40,917,000	27,100,000
Operating lease vehicles, net	-	5,035,000	4,511,000
Solar energy systems, leased & to be leased, net	5,229,000	-	-
Solar energy systems, net	-	5,489,000	5,765,000
Building & building improvements	9,505,000	-	-
Machinery, equipment & office furniture	16,372,000	-	-
Machinery, equipment, vehicles & office furniture	-	13,558,000	9,953,000
Tooling	3,147,000	2,579,000	2,188,000
Leasehold improvements	3,168,000	2,366,000	1,826,000
Land & buildings	-	7,751,000	4,675,000
Computer equipment, hardware & software	-	2,072,000	1,414,000
Computer equipment & software	3,799,000	-	-
Construction in progress	5,791,000	4,263,000	5,559,000
Solar energy systems leased to customers	6,872,000	-	-
Property & equipment, gross	41,782,000	32,589,000	25,615,000
Less: accumulated depreciation & amortization	1,643,000	-	-
Less: accumulated depreciation	12,057,000	9,041,000	6,731,000
Property, plant & equipment, net	29,725,000	23,548,000	18,884,000
Operating lease right-of-use assets	4,180,000	2,563,000	2,016,000
Digital assets, net	184,000	184,000	1,260,000
Intangible assets, net	178,000	215,000	257,000
Goodwill	253,000	194,000	200,000
Other non-current assets	4,531,000	4,193,000	2,138,000
Property, Plant & Equipment Leased Out - Accumulated Depreciation & Impairment	1,380,000	-	-
Operating lease net - Balancing value	7,369,000	-	-
Operating lease net	5,989,000	-	-
Deferred tax assets	6,733,000	-	-
Total assets	106,618,000	82,338,000	62,131,000
Accounts payable	14,431,000	15,255,000	10,025,000
Accrued warranty, current portion	9,080,000	-	-
Accrued purchases	2,721,000	2,747,000	2,045,000
Taxes payable	1,204,000	1,235,000	1,122,000
Payroll & related costs	1,325,000	1,026,000	906,000
Accrued warranty reserve, current portion	1,546,000	1,025,000	703,000
Sales return reserve, current portion	219,000	270,000	265,000
Operating lease liabilities, current portion	672,000	485,000	368,000
Accrued interest	-	-	16,000
Other current liabilities	517,000	354,000	294,000
Accrued liabilities & other current liabilities	-	7,142,000	5,719,000
Deferred revenue	2,864,000	1,747,000	1,447,000
Capital lease obligations, current portion	398,000	-	-
Customer deposits	876,000	1,063,000	925,000
Current portion of debt & finance leases	1,975,000	1,502,000	1,589,000
Current portion of debt and finance leases	2,373,000	-	-
Total current liabilities	28,748,000	26,709,000	19,705,000
Notes	-	37,000	89,000
Credit agreement	-	-	1,250,000
Solar bonds	-	7,000	7,000
Automotive asset-backed notes	-	613,000	1,706,000
Solar asset & loan-backed notes	-	13,000	800,000
Cash equity debt	-	359,000	-
Cash equity debt	2,682,000	-	388,000
Other loans	-	-	14,000
Total debt	-	1,029,000	1,758,000
Finance leases	175,000	568,000	991,000
Debt & finance leases, net of current portion	2,857,000	1,597,000	5,245,000
Deferred revenue, net of current portion	3,251,000	2,804,000	2,052,000
Operating lease liabilities	3,671,000	2,164,000	1,671,000
Accrued warranty reserve	3,606,000	2,480,000	1,398,000
Sales return reserve	-	51,000	133,000
Deferred tax liability	-	82,000	24,000
Other noncurrent liabilities	876,000	553,000	320,000
Other long-term liabilities	8,153,000	5,330,000	3,546,000
Total liabilities	-	36,440,000	30,548,000
Redeemable noncontrolling interests in subsidiaries	242,000	409,000	568,000
Common stock	3,000	3,000	1,000
Additional paid-in capital	34,892,000	32,177,000	29,803,000
Accumulated other comprehensive income (loss)	(143,000)	(361,000)	54,000
Retained earnings (accumulated deficit)	27,882,000	12,885,000	331,000
Total stockholders' equity (deficit)	62,634,000	44,704,000	30,189,000
Noncontrolling interests in subsidiaries	733,000	785,000	826,000
Total Equity	63,367,000	-	-

Scenario

The CFO of your company has asked for your support in preparing a report for the business's board of directors. Many of the board members are new, and some of them have little background in finance. With this in mind, you will need a report that all board members can easily understand.

Directions

For the company you chose for your final project, open the following documents:

The balance sheet, income statement, and cash flow statement from the latest fiscal quarter
The Ratios Most Recent Fiscal Qtr worksheet in the Final Project Financial Formulas workbook (linked in the What to Submit section).
- example, if the latest fiscal quarter available is the third quarter in 2023, you'll compare those results to the same financial calculations from the third quarter in 2022.

Use the documents to calculate key financial ratios.

Then open the following documents:

The balance sheet, income statement, and cash flow statement from the same fiscal quarter one year ago
The Ratios Same Fiscal Qtr 1 Year Ago worksheet

Use the documents to calculate the same financial ratios. Finally, compare those ratios and analyze your results.

Specifically, you must address the following rubric criteria:

Financial Calculations. Calculate accurate financial formulas to assess the business's current financial health. Specifically, calculate the following formulas using the Ratios Most Recent Fiscal Qtr and the Ratios Same Fiscal Qtr 1 Year Ago worksheets in the Final Project Financial Formulas workbook:
1. Working capital
2. Current ratio
3. Debt ratio
4. Earnings per share
5. Price and earnings ratio
6. Total asset turnover ratio
7. Financial leverage
8. Net profit margin
9. Return on assets
10. Return on equity
Fiscal Quarter Comparison. Summarize the differences between the following:
1. The results from your financial calculations of the most recent fiscal quarter
2. The results of the same financial calculations of the same fiscal quarter from one year ago
  1. For example, if the most recent fiscal quarter available is the third quarter in 2023, you'll compare those results to the same financial calculations from the third quarter in 2022.
Comparison Analysis. Explain what your calculations and comparison show about the business's current financial health. Give examples to support your explanation for the following questions:
1. Do the results show the business is financially healthy or unhealthy? Which results indicate this?
2. What might be the causes of the business's financial success or failure?
3. Is more information needed to determine the business's financial health? If so, which pieces of information might still be needed?
Short-Term Financing. Explain how potential short-term financing sources could help the business raise funds needed to improve its financial health. Base your response on the business's current financial information.

submit the following worksheets:

The Ratios Most Recent Fiscal Qtr worksheet from the Final Project Financial Formulas workbook
The Ratios Same Fiscal Qtr1 Year Ago worksheet from the Final Project Financial Formulas workbook