please show work and calculate values for 2019 & 2020
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 2020 1,491 2013 232 Tesla Inc (TSLA) Thistorical R&D Expense 2019 2018 2017 1,343 1,460 1,378 2012 2011 2010 274 209 93 2016 834 2009 19 2015 777 2008 54 2014 499 2007 63 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 -1,638 129 25 107 685 663 471 36 189 114 -7 1,154 665 -1.005 2,209 292 110 58 32 831 -775 -1,063 2,241 141 87 -36 -279 690 -862 976 -1.961 690 362 -976 1.91 745 General Electric company sticker: GE) Simplified Income Statements 2020 2019 2018 2017 Sales 79,893 95,055 121,615 120,468 Cost of Goods Sold (COGS) incl. D&A 59,891 66,573 87,137 84,586 COGS excluding D&A 53,873 60,978 78,913 77,227 Depreciation & Amortization Expense 6,018 5,595 8,224 7,359 Gross Income 20,002 28,482 34,478 35,882 Research & Development 2,565 3,115 4,134 4,803 Rental Expense 1,072 1,176 1,848 1,746 Other SG&A 13,304 15,431 16,989 29,534 EBIT (Operating Income) 3,061 8,760 11,507 -201 Nonoperating Income - Net 8,962 -564 -518 1,624 Interest Expense 3,231 4.324 5,059 4,869 Unusual Expense - Net 3,595 2.723 26,064 5,345 Pretax Income 5,197 1,149 20.134 -8,791 Income Taxes -475 726 583 -3,043 Consolidated Net Income 5,658 423 20,717 -5,759 Minority Interest -7 7 89 -277 Net Income 5,665 416 -20,628 -5,482 Discontinued Operations -93 4211 -1.737 -456 Preferred Dividends 474 461 447 436 Net Income available to Common 5,098 256 -22.812 -6,374