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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 -

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.

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