Refer to Tesla, Inc.s 2020 Form 10K and specifically item 8, Financial Statements and Supplementary Data, which is included in the financial information section of course documents included in blackboard.

1. During lecture we discussed the book value of a company. At December 31, 2020 what was Teslas book value? [Hint: Reflecting on the balance sheet equation may help.]
2. Explain what Teslas book value means using the concepts we discussed during lecture.
3. At December 31, 2020 Tesla has 960,000,000 shares of common stock outstanding. What is Teslas equity market value at December 31, 2020? [Hint: You will need to use Yahoo Finance Historical Data to find Teslas adjusted close daily common stock price per share at December 31, 2020.]
4. Is Teslas equity market value at December 31, 2020 different than Teslas book value at December 31, 2020? Why or why not?
5. During lecture you learned that preferred shareholders are preferred because, among other things, they have a liquidation preference over common shareholders. Read the following facts and compute how much of the $1,500,000 cash dividend will be paid to the preferred and common shareholders