E-Cars Financial Statements
Income Statement - E-Cars
(in $1000s)
	2012	2011
Revenue	$413,256	$204,242
- Cost of Goods	383,189	142,647
Gross Profit	30,067	61,595
- Selling, Gen, and Admin	150,372	104,102
- Research & Development	273,978	208,981
- Other Expenses	1,540	2,391
EBIT	-395,823	-253,879
- Interest Expense	254	43
EBT	-396,077	-253,922
- Tax Expense	136	489
Net Income	-396,213	-254,411
Table 2-2
ElectroCar Balance Sheet
Balance Sheet - E-Cars
(in $1000s)
	20X2	20X1
Current Assets:
Cash	$220,984	$278,742
Receivables	26,842	9,539
Inventory	268,504	50,082
Other CA	8,438	9,414
Total Current Assets	524,768	347,777
Property, Plant & Equip.	562,300	310,171
Other Non-Current Assets	27,122	30,439
Total Assets	$1,114,190	$713,448
Current Liabilities:
Accounts Payable	$343,180	$88,250
Current Maturities	55,206	8,983
Other Curr. Liab.	140,722	94,106
Total Current Liabilities	539,108	191,339
Long-Term Debt	411,460	271,165
Other Long Term Liabilities	38,922	26,899
Total Liabilities	989,490	489,403
Common Equity	1,190,306	893,437
Retained Earnings	-1,065,606	-669,392
Total Equity	$124,700	$224,045
Total Liab and Equity	$1,114,190	$713,448

E-Cars is a Private Corporation. We have limited information however we have obtained their financial statements. Their Mission Statement is Below E-Cars was founded by a group of engineers who wanted to prove that people didnt need to compromise to drive electric that electric vehicles can be better, quicker and more fun to drive than gasoline cars. E-Cars believe the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better. Case Study Answer Analyze the financial statements and this document using everything you have learned in this course.