Tesla designs, develops, manufactures, sells and leases high-performance fully electric vehicles and energy generation and storage systems, and offers services related to their products. Tesla is the worlds first vertically integrated sustainable energy company, offering end-to-end clean energy products, including generation, storage, and consumption. Their products are sold directly to customers, including through their website and retail locations. Use the supplied Tesla 10-K (SEC annual report) dated December 31, 2021, and December 31, 2019, as primary sources of your financial data. For example, in the latest 10-K, page 55 (PDF page listing) shows the balance sheet, page 56 (PDF page listing) shows the income statement. Of course, you are welcome to utilize the entire 10-K as an information source for this scenario analysis. Module 4 in our textbook will be very helpful to you for this scenario analysis; specifically look at 4-3 through 4-14. Required: Complete this assignment as an individual student. Write a memo, with appropriate appendices, using the instructions below. The memo should be one page in length, though memos up to one and one-half pages are permissible and over page and one-half will receive grade deductions; be concise and to the point. Submit your final document, in PDF format, to the listing in the Module: Week 2 in Canvas. Address the following issues about Tesla: In the last two reporting years, Tesla has finally made a profit! In the preceding years, Tesla did not make a profit and yet it was considered a darling (a favored stock) on Wall Street. Using the tools of financial analysis, you are to prepare a memo that will discuss selected financial ratios and trends that underlie Teslas financial status. See appendices requirements below for suggested ratios/trends. Point out other items that impact Teslas financial health (changes in consumer preferences, societal trends, supply chain impacts, and so on) and include this information in your analysis as well. (What does the 10-K say about this? The 10-K says a lot, so do not ignore this source of information.) Make sure that you reference the appendices in the text of your memo. Your attached appendices (multiple pages encouraged) will provide a reference source for calculations/results used in the memo. [Why not use a spreadsheet program for the appendices?] The following items must be included: o At a minimum, show the disaggregation of 2021 ROE components of profit margin, asset turnover, and financial leverage. Do the same for 2020 for ROE. Showing other past years of disaggregation is not required but maybe insightful if included. Use ROE definition from our textbook Module 4-7. o Compute Gross Profit Margin for past 5 years and show in table format to show trend. (Why not show in graph form too?) Probably best to show gross profit by identified revenue sources and in total. o Compute the cash conversion cycle for the past 2 years. See textbook Module 4-10, 11, &12. o Include any other calculations/information in the appendices that support your memo and its conclusions.