Complete a Horizontal Analysis of Teslas Inc. Consolidated Balance Sheet and Consolidated Statement of Operations. Use 2019 as the Analysis Period and 2018 as the Base Period. Use Word or Excel to complete this horizontal analysis. Provide an analysis of what your horizontal analysis reveals about Tesla Inc.s financial position and profitability.

Tesla, Inc. Consolidated Balance Sheets (in millions, except per share data) December 31, 2019 December 31, 2015 Assets Current assets Cash and cash equivalents Restricted cash Accounts receivable, net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, net Property, plant and equipment, net Operating lease right-of-use assets Intangible assets, net Goodwill MyPower customer notes receivable, net of current portion Restricted cash, net of current portion Other assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Resale value guarantees 6,268 246 1,324 3.552 713 2409 12,103 2,447 6,138 10,396 1,218 339 198 393 269 808 34,309 3,686 193 949 3.113 366 8,307 2,090 6,271 11,330 20 282 68 422 398 572 29,740 S 3,771 2,905 1,163 317 726 1.785 Customer deposits Current portion 10.667 3,405 2,094 630 503 793 2,568 9.993 9,404 991 329 2.710 23,427 finance 11,634 1,207 36 2,655 26,199 643 556 of debt and finance leases Total current liabilities Debt and leases, net of current portion Deferred revenue, net of current portion Resale value guarantees, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 16) Redeemable noncontrolling interests in subsidiaries Equity Stockholders' equity Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding Common stock; $0.001 par value; 2,000 shares authorized; 181 and 173 shares issued and outstanding as of December 31, 2019 and 2018, respectively Additional paid-in capital Accumulated other comprehensive loss Accumulated deficit Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 0 12,737 (36) (6,083) 6,618 849 34,309 10,249 (8) (5,318) 4,923 834 29,740 Tesla, Inc. Consolidated Statements of Operations (in millions, except per share data) 2019 Year Ended December 31, 2018 2017 $ $ $ 19,952 869 20.821 1,531 2.226 24,578 17,632 883 18,515 1,555 1,391 21,461 8,535 1,107 9,642 1,116 1,001 11,759 6,725 15,939 459 16,398 1,341 2,770 20,509 4,069 13.686 488 14,174 1,365 1,880 17,419 4,042 708 7,433 874 1,229 9,536 2.223 1,378 2,477 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profit Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net loss attributable to common stockholders Net loss per share of common stock attributable to common stockholders Basic Diluted Weighted average shares used in computing net loss per share of common stock Basic Diluted 1,343 2,646 149 4,138 (69) 44 (685) 45 (665) 110 (775) 1.460 2.835 135 4,430 (388) 24 (663) 22 (1,005) 58 (1,063) 3,855 (1.632) 19 (471) (125) (2,209) 32 (2,241) 87 (862 (87) (976 (279) (1,962 S (4.92 (4.92 (5.72) (5.72 (11.83) (11.83) 177 177 171 171 166 166 The accompanying notes are an integral part of these consolidated financial statements. Tesla, Inc. Consolidated Balance Sheets (in thousands, except per share data) December 31, 2018 December 31, 2017 3,685,618 192,551 949,022 3,113,446 365,671 8,306,308 2,089,758 6,271,396 11.330,077 282,492 68.159 421.548 398.219 571,657 29.739,614 3,367,914 155.323 515,381 2.263,537 268.365 6,570,520 4,116,604 6,347,490 10,027.522 361,502 60.237 456,652 441,722 273,123 28.655,372 $ $ Assets Current assets Cash and cash equivalents Restricted cash Accounts receivable. net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, leased and to be leased, net Property, plant and equipment, net Intangible assets, net Goodwill MyPower customer notes receivable, net of current portion Restricted cash, net of current portion Other assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Resale value guarantees Customer deposits Current portion of long-term debt and capital leases Current portion of promissory notes issued to related parties Total current liabilities Long-term debt and capital leases, net of current portion Deferred revenue, net of current portion Resale value guarantees, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 17) Redeemable noncontrolling interests in subsidiaries Convertible senior notes (Note 13) Equity Stockholders' equity Preferred stock 50.001 par value: 100,000 shares authorized; no shares issued and outstanding Common stock: $0.001 par value: 2,000,000 shares authorized; 172.603 and 168,797 shares issued and outstanding as of December 31, 2018 and 2017, respectively Additional paid-in capital Accumulated other comprehensive (loss) income Accumulated deficit Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 3,404,451 2,094,253 630,292 502.840 792,601 2,567,699 9.992.136 9,403,672 990,873 328.926 2.710.403 23.426,010 555,964 2.390,250 1,731,366 1,015253 787,333 853,919 796,549 100,000 7.674.670 9,418,319 1.177,799 2.309,222 2.442.970 23,022,980 397,734 70 173 10,249,120 (8,218) (5.317.832) 4.923,243 834,397 29.739,614 169 9,178,024 33,348 (4.974.299) 4,237,242 997,346 28.655,372 The accompanying notes are an integral part of these consolidated financial statements. Tesla, Inc. Consolidated Statements of Operations (in thousands, except per share data) 2018 Year Ended December 31, 2017 2016 $ $ $ 17,631,522 883.461 18.514.983 1,555,244 1,391,041 21,461,268 8,534,752 1,106,548 9,641.300 1,116,266 1,001,185 11,758,751 5,589,007 761,759 6,350,766 181,394 467,972 7,000.132 13,685,572 488,425 14,173,997 1,364,896 1,880,354 17,419.247 4,042,021 6,724,480 708,224 7,432,704 874,538 1,229,022 9,536,264 2.222.487 4,268,087 481.994 4,750,081 178.332 472.462 5,400.875 1,599,257 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profit Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net loss attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net loss attributable to common stockholders Net loss per share of common stock attributable to common stockholders Basic 1,378,073 2,476,500 834,408 1,432,189 1,460.370 2,834.491 135,233 4,430,094 (388,073) 24,533 (663,071) 21,866 (1,004,745) 57,837 (1,062,582) 3,854,573 (1,632,086) 19,686 (471,259) (125,373) (2,209,032) 31,546 (2,240,578) 2,266,597 (667,340) 8,530 (198,810) 111.272 (746,348) 26,698 (773,046) (86,491) (976,091 (279,178) (1.961,400 (98,132) (674.914) (5.72) (11.83 (11.83 (4.68 (4.68 Diluted (5.72 Weighted average shares used in computing net loss per share of common stock Basic Diluted 170,525 170,525 165,758 165,758 144,212 144,212 The accompanying notes are an integral part of these consolidated financial statements. Tesla, Inc. Consolidated Balance Sheets (in millions, except per share data) December 31, 2019 December 31, 2015 Assets Current assets Cash and cash equivalents Restricted cash Accounts receivable, net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, net Property, plant and equipment, net Operating lease right-of-use assets Intangible assets, net Goodwill MyPower customer notes receivable, net of current portion Restricted cash, net of current portion Other assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Resale value guarantees 6,268 246 1,324 3.552 713 2409 12,103 2,447 6,138 10,396 1,218 339 198 393 269 808 34,309 3,686 193 949 3.113 366 8,307 2,090 6,271 11,330 20 282 68 422 398 572 29,740 S 3,771 2,905 1,163 317 726 1.785 Customer deposits Current portion 10.667 3,405 2,094 630 503 793 2,568 9.993 9,404 991 329 2.710 23,427 finance 11,634 1,207 36 2,655 26,199 643 556 of debt and finance leases Total current liabilities Debt and leases, net of current portion Deferred revenue, net of current portion Resale value guarantees, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 16) Redeemable noncontrolling interests in subsidiaries Equity Stockholders' equity Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding Common stock; $0.001 par value; 2,000 shares authorized; 181 and 173 shares issued and outstanding as of December 31, 2019 and 2018, respectively Additional paid-in capital Accumulated other comprehensive loss Accumulated deficit Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 0 12,737 (36) (6,083) 6,618 849 34,309 10,249 (8) (5,318) 4,923 834 29,740 Tesla, Inc. Consolidated Statements of Operations (in millions, except per share data) 2019 Year Ended December 31, 2018 2017 $ $ $ 19,952 869 20.821 1,531 2.226 24,578 17,632 883 18,515 1,555 1,391 21,461 8,535 1,107 9,642 1,116 1,001 11,759 6,725 15,939 459 16,398 1,341 2,770 20,509 4,069 13.686 488 14,174 1,365 1,880 17,419 4,042 708 7,433 874 1,229 9,536 2.223 1,378 2,477 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profit Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net income (loss) attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net loss attributable to common stockholders Net loss per share of common stock attributable to common stockholders Basic Diluted Weighted average shares used in computing net loss per share of common stock Basic Diluted 1,343 2,646 149 4,138 (69) 44 (685) 45 (665) 110 (775) 1.460 2.835 135 4,430 (388) 24 (663) 22 (1,005) 58 (1,063) 3,855 (1.632) 19 (471) (125) (2,209) 32 (2,241) 87 (862 (87) (976 (279) (1,962 S (4.92 (4.92 (5.72) (5.72 (11.83) (11.83) 177 177 171 171 166 166 The accompanying notes are an integral part of these consolidated financial statements. Tesla, Inc. Consolidated Balance Sheets (in thousands, except per share data) December 31, 2018 December 31, 2017 3,685,618 192,551 949,022 3,113,446 365,671 8,306,308 2,089,758 6,271,396 11.330,077 282,492 68.159 421.548 398.219 571,657 29.739,614 3,367,914 155.323 515,381 2.263,537 268.365 6,570,520 4,116,604 6,347,490 10,027.522 361,502 60.237 456,652 441,722 273,123 28.655,372 $ $ Assets Current assets Cash and cash equivalents Restricted cash Accounts receivable. net Inventory Prepaid expenses and other current assets Total current assets Operating lease vehicles, net Solar energy systems, leased and to be leased, net Property, plant and equipment, net Intangible assets, net Goodwill MyPower customer notes receivable, net of current portion Restricted cash, net of current portion Other assets Total assets Liabilities Current liabilities Accounts payable Accrued liabilities and other Deferred revenue Resale value guarantees Customer deposits Current portion of long-term debt and capital leases Current portion of promissory notes issued to related parties Total current liabilities Long-term debt and capital leases, net of current portion Deferred revenue, net of current portion Resale value guarantees, net of current portion Other long-term liabilities Total liabilities Commitments and contingencies (Note 17) Redeemable noncontrolling interests in subsidiaries Convertible senior notes (Note 13) Equity Stockholders' equity Preferred stock 50.001 par value: 100,000 shares authorized; no shares issued and outstanding Common stock: $0.001 par value: 2,000,000 shares authorized; 172.603 and 168,797 shares issued and outstanding as of December 31, 2018 and 2017, respectively Additional paid-in capital Accumulated other comprehensive (loss) income Accumulated deficit Total stockholders' equity Noncontrolling interests in subsidiaries Total liabilities and equity 3,404,451 2,094,253 630,292 502.840 792,601 2,567,699 9.992.136 9,403,672 990,873 328.926 2.710.403 23.426,010 555,964 2.390,250 1,731,366 1,015253 787,333 853,919 796,549 100,000 7.674.670 9,418,319 1.177,799 2.309,222 2.442.970 23,022,980 397,734 70 173 10,249,120 (8,218) (5.317.832) 4.923,243 834,397 29.739,614 169 9,178,024 33,348 (4.974.299) 4,237,242 997,346 28.655,372 The accompanying notes are an integral part of these consolidated financial statements. Tesla, Inc. Consolidated Statements of Operations (in thousands, except per share data) 2018 Year Ended December 31, 2017 2016 $ $ $ 17,631,522 883.461 18.514.983 1,555,244 1,391,041 21,461,268 8,534,752 1,106,548 9,641.300 1,116,266 1,001,185 11,758,751 5,589,007 761,759 6,350,766 181,394 467,972 7,000.132 13,685,572 488,425 14,173,997 1,364,896 1,880,354 17,419.247 4,042,021 6,724,480 708,224 7,432,704 874,538 1,229,022 9,536,264 2.222.487 4,268,087 481.994 4,750,081 178.332 472.462 5,400.875 1,599,257 Revenues Automotive sales Automotive leasing Total automotive revenues Energy generation and storage Services and other Total revenues Cost of revenues Automotive sales Automotive leasing Total automotive cost of revenues Energy generation and storage Services and other Total cost of revenues Gross profit Operating expenses Research and development Selling, general and administrative Restructuring and other Total operating expenses Loss from operations Interest income Interest expense Other income (expense), net Loss before income taxes Provision for income taxes Net loss Net loss attributable to noncontrolling interests and redeemable noncontrolling interests in subsidiaries Net loss attributable to common stockholders Net loss per share of common stock attributable to common stockholders Basic 1,378,073 2,476,500 834,408 1,432,189 1,460.370 2,834.491 135,233 4,430,094 (388,073) 24,533 (663,071) 21,866 (1,004,745) 57,837 (1,062,582) 3,854,573 (1,632,086) 19,686 (471,259) (125,373) (2,209,032) 31,546 (2,240,578) 2,266,597 (667,340) 8,530 (198,810) 111.272 (746,348) 26,698 (773,046) (86,491) (976,091 (279,178) (1.961,400 (98,132) (674.914) (5.72) (11.83 (11.83 (4.68 (4.68 Diluted (5.72 Weighted average shares used in computing net loss per share of common stock Basic Diluted 170,525 170,525 165,758 165,758 144,212 144,212 The accompanying notes are an integral part of these consolidated financial statements