Rate of Return Initial Investment Time Value of Money - Monthly Compounding Year 1 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 2 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 3 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 4 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 5 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 6 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 7 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 8 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 9 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Year 10 Month 1 2 3 4 5 6 7 8 9 10 11 12 Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Current Assets Current Liabilities ACCOUNTING & FINANCIAL RATIOS CURRENT RATIO (Current Assets/Current Liabilities) TOTAL ASSET TURNOVER RATIO (Total Revenue / Total Assets) #DIV/0! Total Revenue Total Assets #DIV/0! FINANCIAL LEVERAGE (Total Assets / Shareholder's Equity) WORKING CAPITAL (Current Assets - Current Liabilities) *Note to students: Be mindful of the scale being used in Mergent Online when Current Asse filling this out. If a number is written as 12.53, that does not mean the total for Current Liab that item is $12.53. There could be numerous zeros written after it, depending on the scale labeled above. In this example, 12.53 is actually $12,530,000. (To delete this comment, right-click on the "WORKING CAPITAL" box, then select DEBT RATIO (Total Debt/ Total Assets) Total Assets Shareholder's Equity Total Debt Total Assets #DIV/0! EARNINGS PER SHARE (Net Income/Weighted Average Common Shares Outstanding) Net Income Shares Outstanding Stock Price EPS #DIV/0! PRICE EARNINGS RATIO (Share Price (end of quarter/EPS) Net Income Total Revenue Net Income Total Assets #DIV/0! NET PROFIT MARGIN (Net Income / Total Revenue) #DIV/0! RETURN ON ASSETS (Net Income / Total Assets) #DIV/0! RETURN ON EQUITY (Net Income - Preferred Dividends / Shareholder's Equity) NI - Pref. Div. #DIV/0! Shareholder's Equity #DIV/0! Time Value of Money - Annual Compounding Rate of Return Year 1 2 3 4 5 6 7 8 9 10 Initial Investment Interest $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Investment Value $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Time Value of Money - Present Value Annuity Number of Years Rate of Return Payment $0.00 Time Value of Money - Future Value Annuity Number of Years Rate of Return Payment $0.00 Time Value of Money - Present Value of Lump Sum Rate Years $0.00 Initial Investment Rate Time Value of Money - Future Value of Lump Sum Years $0.00 Initial Investment Initial Investment Annual Cash Inflows Discount Rate Number of Years Salvage Value Initial Investment Annual Cash Inflows Discount Rate Number of Years Salvage Value Initial Investment Annual Cash Inflows Discount Rate Number of Years Principal Returned Net Present Value (NPV) Calculator Building Year 1 2 3 4 5 6 7 8 9 10 Cash Flows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 NPV = $0 Year 11 12 13 14 15 16 17 18 19 20 Cash Flows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Equipment Year 1 2 3 4 5 6 7 8 9 10 Cash Flows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 NPV = $0 Year 11 12 13 14 15 16 17 18 19 20 Cash Flows $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 NPV = $0 Bonds Year Cash Flows 1 2 3 4 5 6 7 8 9 10 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 Overview In preparation for your report in Project Two, you will need to calculate the financial ratios needed to determine your chosen business's current financial health. Once you've calculated these ratios, the results will be used to analyze the business's current financial position and help them make decisions about how to improve or maintain their financial health. Pay particular attention to working capital management. If liquidity is an issue, consider how the company will meet its short-term obligations. Prompt Using the Project Two Financial Formulas spreadsheet and the balance sheet, income statement, and cash flow statement from Mergent Online for your chosen company, calculate the financial ratios for the most recent fiscal quarter. Then, compare those ratios with the same ratios for the same fiscal quarter from one year prior in Mergent Online, and analyze your results. Specifically, you must address the following rubric criteria: Financial Calculations: Calculate accurate financial ratios to assess the business's current financial health. Specifically, calculate the following ratios: Working capital Current ratio Debt ratio Earnings per share Price/earnings ratio Total asset turnover ratio Financial leverage Net profit margin Return on assets Return on equity Fiscal Quarter Comparison: Using Mergent Online, summarize the differences between the results from your financial calculations of the most recent fiscal quarter and the results of the same financial calculations of the same fiscal quarter from a year before for your chosen business. For example, if the most recent fiscal quarter available is the 3rd quarter in 2020, then you will compare those results to the same financial calculations from the 3rd quarter in 2019. Comparison Analysis: Explain what the results of your calculations and your comparison indicate about the business's current financial health, providing examples to support your explanation. You might consider the following questions: Do the results indicate the business is financially healthy or financially unhealthy? Which results indicate this? What might be the cause(s) of the business's financial success or failure? Is more information needed to determine the business's financial health? If so, which pieces of information might still be needed? Short-Term Financing: Explain how potential short-term financing sources could help the business raise needed funds to improve its financial health. Base your response on the business's current financial information. Total assets Accounts payable Accrued purchases Taxes payable 7558000 55146000 52972000 45691000 38135000 37250000 32795000 31872597 28912524 6648000 4958000 3638000 3970000 3468000 3133587 3248827 1437000 993000 711000 782000 643000 834000 828000 635000 484000 399000 Payroll & related costs 840000 660000 502000 495000 409000 Accrued warranty reserve, current 608000 544000 400000 384000 362000 Sales return reserve, current portic 382000 430000 461000 345000 289000 Financing obligation, current portic Operating lease liabilities, current 48000 47000 53000 325000 309000 251000 233000 229000 Resale value guarantees, current Accrued interest 20000 70000 202000 60000 36000 51000 Other current liabilities Accrued liabilities & other current I 292000 4778000 4073000 1693000 1592000 273000 812000 745000 Deferred revenue Resale value guarantees Customer deposits Current portion of debt & finance le Total current liabilities Recourse debt Non-recourse debt Total debt Finance lease Debt & finance leases, net of curre Deferred revenue, net of current po Resale value guarantees, net of c Operating lease liabilities Accrued warranty reserve, net of cu Sales return reserve, net of curren Deferrred tax liabilities 1530000 1819000 3126000 16371000 14877000 13302000 12270000 11986000 10146000 3838000 4085000 3040000 3934000 6878000 8019000 993000 1034000 6011000 3468000 9479000 1187000 7871000 9053000 10559000 10416000 10666000 11313000 11234401 1318000 1198000 1199000 1140000 - 173000 3252000 1258000 91000 55000 179000 184000 3110000 2825000 2497000 1130000 1186000 1045000 2622943 2276951 883293 762810 - 441000 526758 480225 708000 713000 788000 3679000 3217000 665000 631107 768276 2030000 1791085 1705711 9588773 9242800 9787950 1294000 1233000 1182042 1157343 38000 61200 211390 378000 63000 1407000 1330000 1083000 990000 424000 144000 1101000 1016000 941000 869000 812000 768000 519000 529000 488000 1028000 1030797 1000886 692000 653095 590211 547000 577914 524222 Financing obligation 30000 Resale value guarantees 36000 42000 36000 34000 36000 Financing obligation, net of curren 42000 Other noncurrent liabilities Other long-term liabilities Total liabilities Redeemable noncontrolling intere Convertible senior notes Common stock Additional paid-in capital Accumulated other comprehensive Retained earnings (accumulated ( Total stockholders' equity (deficit) Noncontrolling interests in subsid 1000 1000 28205000 27623000 206000 143000 -3608000 -4750000 24804000 23017000 841000 847000 21574000 15895000 15390000 405000 395000 3336000 3283000 28896000 28507000 605000 601000 494000 3049000 28143000 608000 48000 1000 435000 400000 367000 2870000 2667000 2676000 26754000 26518000 25313000 613000 632000 600000 44549 349365 314250 2655720 2475135 24722136 22874618 580227 45566 570284 44000 60000 12348000 125000 -5669000 -40000 -113000 -6000000 -6104000 -120000 -6188000 179 12052458 -5605 -6331639 174 10563746 -35019 -5923305 16031000 9855000 9173000 6040000 5715393 4605596 861000 869000 867000 842000 854841 862026 Balance Sheet Exchange rate used is that of the Year End reported date As Reported Quarterly Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents Restricted cash Accounts receivable, net Raw materials 06/30/2021 03/31/202 09/30/2020 06/30/2020 03/31/202 09/30/2019 06/30/2019 03/31/2019 1 0 2nd Quarter 1st 3rd 2nd 1st Quarter Quarter USD Quarter USD Quarter USD 3rd Quarter USD 1st Quarter USD USD Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Yes Yes Yes Yes 2nd Quarter USD USD Unaudited Unaudited Yes Yes Yes Yes Thousands Thousand Thousands Thousands Thousand Thousands Thousands Thousands S S 16229000 17141000 14531000 8615000 8080000 5338000 4954740 2198169 233000 128006 130950 2129000 1890000 1757000 2067000 1836000 1573000 Work in process 858000 454000 572000 Finished goods 1318000 1341000 1674000 Service parts 490000 501000 399000 Inventory 4733000 Prepaid expenses & other current Intangible assets, net Goodwill Total current assets Operating lease vehicles, net Solar energy systems in service Initial direct costs related to custor Solar energy systems, gross Less: accumulated depreciation & Solar energy systems in service at Solar energy systems under const Solar energy systems pending int Solar energy systems, net Machinery, equipment, vehicles & Tooling Leasehold improvements Building & building improvements Land & buildings Computer equipment, hardware & Construction in progress Property, plant & equipment, gross Less: accumulated depreciation & Property, plant & equipment, net Operating lease right-of-use asse Digital assets, net MyPower customer notes receivab Restricted cash, net of current port Other non-current assets 3725000 3681000 1148000 1020000 3826000 2435000 21489000 19257000 16662000 5824000 5389000 4814000 15665000 13868000 11848000 1734000 1647000 1375000 1311000 1331000 283000 299000 203000 206000 4132000 1602000 1542000 24693000 24705000 3748000 3396000 4218000 1238000 21744000 1485000 1274000 1842000 420000 1379000 1961000 377000 386000 4018000 4494000 1218000 1045000 15336000 14893000 1128000 1147100 1046945 1653000 1284000 1095888 1079216 494000 335000 334641 277155 1583000 1600214 2151012 379000 351615 329467 3581000 3382358 3836850 660000 569748 464908 10940000 10181952 7677822 2742000 2524000 2527000 2253000 2069540 1972502 6744000 6722000 6703000 6649000 6587439 6461833 103000 103000 102000 102000 101197 101204 6847000 6825000 6805000 6751000 6688636 6563037 897000 839000 781000 666000 608006 550558 5950000 5986000 6085000 6080630 25000 28000 24000 23000 49777 49648 50000 5883000 5933000 6025000 9156000 8711000 7943000 2038000 1916000 1794000 1596000 1494000 1291000 55000 6069000 7687000 7428000 1711000 1574000 1157000 1103000 58000 60000 70297 179510 6106000 6168000 6200704 6241637 7007000 6919869 6584307 1477000 1463543 1418368 1029000 1010893 987916 2631607 3245000 3172000 3146000 2956000 782000 700000 647000 549000 1607000 1012000 812000 700000 15439000 14710000 13718000 4430000 4072000 3528000 11009000 10638000 10190000 1274000 1197000 1234000 2839746 553265 525138 543452 622180 13330768 12769516 3248310 2918587 10082458 9850929 1248277 1253027 318000 203000 312000 323000 196000 193000 351000 327358 273568 186000 153475 74312 398000 400308 413181 255000 365547 353679 1626000 1587000 1436000 1415000 1373000 820000 842978 801867 Scale Net income (loss) 1642000 464000 As Reported Quarterly Cash Flow Report Date Currency Audit Status Consolidated 06/30/202 03/31/202 09/30/202 06/30/202 03/31/202 09/30/201 06/30/201 03/31/201 2nd USD 1st USD Yes 1st USD 3rd USD 2nd USD Yes 1st USD Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Yes Yes Yes Yes Thousand Thousand Thousand Thousand Thousand Thousand Thousand Thousand 68000 -907000 -1056907 -667645 3rd USD 2nd USD Yes Yes 566000 197000 Stock-based compensation Depreciation, amortization & impairment Amortization of debt discounts & issuance costs 1302000 621000 1704000 1120000 553000 1577000 1046149 467577 1088000 614000 1101000 558000 211000 617000 418241 208378 144000 94000 46000 138000 82123 40108 Inventory & purchase commitments write-downs Inventory write-downs 88000 49000 140000 88000 45000 167000 115672 80843 Loss on disposals of fixed assets 67000 12000 7000 69000 47931 18421 Foreign currency transaction net loss (gain) -1000 -2000 144000 38000 19000 -102000 -10848 -39130 Non-cash interest & other operating activities 60000 8000 116000 110000 58000 189000 158699 116050 Digital assets gain, net -78000 -101000 Operating cash flow related to repayment of discounted c -188000 -188107 -188107 Accounts receivable -283000 Inventory Operating lease vehicles Prepaid expenses & other current assets Other non-current assets -24000 -550000 -236000 -687000 -106000 -602000 -535000 -916000 -426000 -640000 -330000 -131000 -143000 -290000 -289000 -168000 -105000 -14000 -150000 -168312 -99640 -981000 -485000 -352428 -809152 -197000 -467000 -175898 13012 -301000 -154000 -236000 -139141 -46103 -16000 40000 46000 42165 28064 Accounts payable & accrued liabilities 1592000 672000 765000 -372000 -265000 142000 49898 -27577 Deferred revenue Customer deposits 279000 162000 118000 52000 -2000 -15000 -20000 5000 53000 625000 476556 317888 88000 -114000 -160376 -25173 Resale value guarantee -112000 -76332 -47394 Other long-term liabilities 47000 23000 261000 112000 -17000 171000 114915 19974 Net cash flows from operating activities 3765000 1641000 2924000 524000 Purchases of property & equipment excluding finance lea -2853000 -1348000 -2006000 Purchases of solar energy systems, net of sales -22000 -12000 -62000 -1001000 -46000 -440000 -455000 -915000 -26000 -68000 980000 224000 -639606 -529609 -279932 -43458 -25261 Purchases of digital assets -1500000 -1500000 Receipt of government grants Proceeds from sales of digital assets 6000 272000 6000 272000 1000 1000 1000 Purchase of intangible assets -5000 Business combinations, net of cash acquired -13000 Net cash flows from investing activities -4097000 -2582000 -2085000 -1046000 -480000 Proceeds from issuances of common stock in public offer 7282000 2309000 2309000 -5000 -45000 -1033000 848000 -5333 31012 -547388 848232 -650 -305843 Proceeds from issuances of convertible & other debt 4862000 Repayments of convertible & other debt -7408000 Collateralized lease repayments -8000 2983000 7826000 -4038000 -7537000 -6000 -224000 4946000 2802000 -4226000 -2318000 7119000 5007481 1494066 -5601000 -3700332 -1970709 -168000 -97000 Collateralized lease borrowing -219323 Collateralized lease borrowings (repayments) Proceeds from exercises of stock options & other stock is: 253000 183000 Principal payments on finance leases -196000 -101000 Debt issuance costs -5000 -5000 361000 217000 -248000 -154000 -6000 160000 -100000 -302000 167000 -133891 -223000 95585 -142571 77953 -66656 Common stock & debt issuance costs -32000 -30376 -7757 Purchase of convertible note hedges -476000 -475824 Proceeds from issuance of warrants Proceeds from investments by noncontrolling interests in: Distributions paid to noncontrolling interests in subsidiarie Payments for buy-outs of noncontrolling interests in subsi Net cash flows from financing activities Effect of exchange rate changes on cash & cash equival Net increase (decrease) in cash & cash equivalents & res Cash & cash equivalents & restricted cash, beginning of p Cash & cash equivalents & restricted cash, end of period 174000 174432 2000 -65000 -32000 -2565000 -1016000 23000 -163000 -33000 7281000 -179000 -221000 100000 -3076000 -2178000 8220000 19901000 19901000 16825000 17723000 19000 -110000 -2000 2831000 14000 2323000 6783000 6783000 15003000 9106000 19000 -67000 153000 88866 46821 2708000 -24000 -211000 -8000 1608000 -6000 -148759 -85257 -7589 1489822 -7589 -653019 1764000 1549000 6783000 4277000 8547000 5826000 5471 1171905 4276388 4878 -1593590 4276388 5448293 2682798 Company Financials Income Statement Exchange rate used is that of the Year End reported date As Reported Quarterly Income Statement Report Date 06/30/2021 03/31/2021 09/30/2020 06/30/2020 03/31/2020 09/30/2019 06/30/2019 2nd Quarter 03/31/2019 1st 3rd Quarter Quarter 2nd 1st Quarter Quarter 3rd Currency Audit Status Consolidated Scale Revenue - automotive sales Revenue automotive leasing Total automotive revenues Energy generation & storage Services & other revenues Total revenues Cost of revenues - automotive sales Cost of revenues - automotive leasing Total automotive cost of revenues Cost of energy generation & storage Cost of services & other cost of revenues Total cost of revenues Gross profit (loss) Research & development expenses Selling, general & administrative expenses Restructuring & other expenses Total operating expenses USD USD USD USD USD Quarter USD 2nd Quarter 1st Quarter USD USD Yes Yes Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Yes Unaudited Yes Thousands Thousands Thousands Thousand Thousands Thousand Thousands Yes Yes Yes Unaudited Yes Thousands S S 9874000 332000 10206000 8705000 297000 9002000 7346000 4911000 4893000 5132000 5168027 3508741 265000 7611000 268000 5179000 239000 5132000 221000 208362 215120 5353000 5376389 3723861 801000 494000 579000 370000 293000 402000 368208 324661 951000 893000 581000 487000 560000 548000 605079 492942 11958000 10389000 8771000 6036000 5985000 6303000 6349676 4541464 7119000 6457000 5361000 3714000 3699000 4014000 4253763 2856209 188000 160000 145000 148000 122000 117000 106322 117092 7307000 6617000 5506000 781000 595000 3862000 349000 3821000 4131000 4360085 2973301 986000 962000 9074000 8174000 2884000 2215000 558000 644000 558000 6708000 4769000 2063000 1267000 1234000 1191000 282000 314000 325523 316887 648000 667000 743022 685533 4751000 5112000 5428630 3975721 921046 565743 576000 666000 366000 279000 324000 334000 323898 340174 973000 1056000 888000 661000 627000 596000 647261 703929 23000 -101000 117345 43471 1572000 1621000 1254000 940000 951000 930000 1088504 1087574 Income (loss) from operations 1312000 594000 809000 327000 283000 261000 -167458 -521831 Interest income 11000 10000 6000 8000 10000 15000 10362 Interest expense 75000 99000 163000 170000 169000 185000 171979 8762 157453 Other income (expense), net 45000 28000 -97000 -15000 -54000 85000 -40756 Income (loss) before income taxes 1293000 533000 555000 150000 70000 176000 -369831 25750 -644772 Provision (benefit) for income taxes 115000 69000 186000 21000 Net income (loss) 1178000 464000 369000 129000 2000 68000 26000 150000 19431 -389262 22873 -667645 Net income (loss) attributable to noncontrolling interests & redeemable noncontrolling interests in subsidiaries -36000 -26000 -38000 -25000 -52000 -7000 -19072 -34490 Net income (loss) attributable to common stockholders 1142000 438000 331000 104000 16000 Weighted average shares outstanding - basic 971000 961000 937000 930000 915000 Weighted average shares outstanding - diluted 1119000 1133000 1105000 1035000 995000 143000 895000 920000 883270 -408334 883270 -702135 864945 864945 Year end shares outstanding 984000 963000 948000 930000 925000 900000 895590 868410 Net income (loss) per share - basic 1.18 0.46 0.32 Net income (loss) per share - diluted 1.02 0.39 0.27 0.112 0.1 0.018 0.16 -0.462 -0.82 0.016 0.156 -0.462 -0.82