P5-57. Analyzing and Interpreting Operating Expenses for an Earl}r Stage Company The graphic below depicts revenue, cost of goods sold. and R&D expense for Tesla Inc. for 2010 through 2018 ($ in millions). $25,000 120% $20,000 Revenue (scale is on left) $15,000 Cost of Goods Sold (scale is on left) R&D Expense (scale is on left) COGSIFlevenue (scale is on right) R&DfFIevenue (scale is on tight) w___-_-_-_I_I.D% 2010 2011 2012 2013 2014 2015 2016 2017 2010 What pattern do we observe for revenue over the eight years? What pattern do we observe for COGS and R&D expense over the eight years? c. What explains the volatile pattern of cost of goods sold and R&D expense relative to revenue in the earlier years? How would analysts interpret the declining R&D as a % of revenue over time? F"