Below shows the Balance Sheet, Income Statement, and Historical R&D expense of Tesla (ticker: TSLA) reported in the 10-K files. Assume a 5 year R&D amortization life and a 21% Income tax rate, please calculate (1). R&D amortization expense. (2) adjusted operating income, (3) adjusted net income, (4) R&D asset value, and (5) adjusted retained earnings in 2019 and 2020. Year R&D Expense Year R&D Expense 2015 777 Tesla Inc (TSLA) Thistorical R&D Expense 2019 2018 2017 1,343 1,460 1,378 2012 2011 2010 274 209 93 2020 1.491 2013 232 2016 834 2009 19 2014 499 2007 63 2008 54 Tesla Inc. (ticker: TSLA) Simplified Income Statements Sales Cost of Goods Sold (COGS) incl. D&A COGS excluding D&A Depreciation & Amortization Expense Gross Income Research & Development Rental Expense Other SG&A EBIT (Operating Income) Nonoperating Income - Net Interest Expense Unusual Expense - Net Pretax Income Income Taxes Consolidated Net Income Minority Interest Net Income Net Income available to Common 2020 2019 2018 2017 31,536 24,578 21,461 11,759 24,906 20.509 17.419 9,542 22,584 18,355 15.518 7,906 2,322 2,154 1,901 1,636 6,630 4,069 4,042 2,217 1,491 1,343 1.460 1,378 451 426 183 178 2,694 2.220 2,652 2.299 1.994 80 -253 -1,638 -56 129 25 107 685 471 36 189 114 -7 1.154 -665 1,005 2,209 292 110 58 32 831 -1,063 2,241 141 87 -36 -279 690 -862 .976 1,961 690 362 .976 1.961 748 663 275 Tesla NC ISLAN Simplified Balance Sheets 2020 2019 2018 2017 26,717 12,103 8.306 6,571 23,375 20,199 19,691 20,492 28,335 23,844 22,886 22,436 1,558 1,218 0 0 6,518 4,863 3,195 1,944 613 663 820 898 520 537 351 422 923 807 572 273 52,148 34,309 29,740 28,655 14.248 10,667 9,992 7,675 Assets Total Current Assets Net Property, Plant & Equipment Other Property, Plant & Equipment Operating Lease Right-of-Use Assets Accumulated Depreciation Total Long-Term Investments Intangible Assets Other Assets Total Assets Liabilities Current Liabilities Total Current Liabilities Long-Term Long-Term Debt Long-Term Debt excl Lease Obligations Capital and Operating Lease Obligations Provision for Risks & Charges Deferred Tax Liabilities Other Liabilities Total Liabilities Equity Common Equity Other Common Equity Retained Earnings Total Sharehollers Equity Accumulated Minority Interest Total Equity Total Liabilities & Shareholders. Equity 10,888 8,513 2.375 519 151 12,627 10,402 2,225 581 11,116 8,410 2,706 413 11,152 8,829 2,323 2,309 2.663 28,469 2,324 26,199 1,905 23,426 1,887 23,023 27.624 5,399 22.225 1.454 23,679 52.1-18 12,701 6,083 6,618 1.492 B.110 10,241 -5,318 4.923 1,390 6,314 29,740 9.212 -4,974 4,237 1.395 5.632 28,655 34,309
