BASED ON AMAZON 2017 INCOME STATEMENT PLEASE Calculate Enterprise Value of Amazon.com, Inc. (AMZN) using both accounting and efficient market approaches. PLEASE SHOW ALL WORK

Income Statement

All numbers in thousands

Revenue	12/31/2017
Total Revenue	177,866,000
Cost of Revenue	111,934,000
Gross Profit	65,932,000
Operating Expenses
Research Development	22,620,000
Selling General and Administrative	38,992,000
Non Recurring	-
Others	214,000
Total Operating Expenses	173,760,000
Operating Income or Loss	4,106,000
Income from Continuing Operations
Total Other Income/Expenses Net	-304,000
Earnings Before Interest and Taxes	4,106,000
Interest Expense	-848,000
Income Before Tax	3,802,000
Income Tax Expense	769,000
Minority Interest	-
Net Income From Continuing Ops	3,033,000
Non-recurring Events
Discontinued Operations	-
Extraordinary Items	-	-
Effect Of Accounting Changes	-	-
Other Items	-	-
Net Income
Net Income	3,033,000
Preferred Stock And Other Adjustments	-	-
Net Income Applicable To Common Shares	3,033,000

Annual Income Statement (values in 000's)Get Quarterly Data

Period Ending:

Trend

12/31/2017

Cash and Cash Equivalents

$20,522,000

Short-Term Investments

$10,464,000

Net Receivables

$13,164,000

Inventory

$16,047,000

Other Current Assets

$0

Total Current Assets

$60,197,000

Long-Term Investments

$0

Fixed Assets

$48,866,000

Goodwill

$13,350,000

Intangible Assets

$0

Other Assets

$8,897,000

Deferred Asset Charges

$0

Total Assets

$131,310,000

Accounts Payable

$52,786,000

Short-Term Debt / Current Portion of Long-Term Debt

$0

Other Current Liabilities

$5,097,000

Total Current Liabilities

$57,883,000

Long-Term Debt

$24,743,000

Other Liabilities

$20,975,000

Deferred Liability Charges

$0

Misc. Stocks

$0

Minority Interest

$0

Total Liabilities

$103,601,000

Common Stocks

$5,000

Capital Surplus

$21,389,000

Retained Earnings

$8,636,000

Treasury Stock

($1,837,000)

Other Equity

($484,000)

Total Equity

$27,709,000

Total Liabilities & Equity

$131,310,000