Tesla Inc. Comparative Financial Statements

Income Statement for Years Ended December 31, 2021, 2022, 2023

• Sales: $53,823, $81,462, $108,368
• Cost of Goods Sold: $40,953, $62,836, $83,327
• Gross Profit: $12,870, $18,626, $25,041
• Research and Development Expenses: $2,593, $3,442, $4,248
• Selling, General, Administrative Expenses: $4,987, $6,223, $7,318
• Operating Income: $5,290, $8,961, $13,475
• Interest Expense: $698, $674, $659
• Income Before Tax: $4,592, $8,287, $12,816
• Income Tax Expense: $115, $824, $1,287
• Net Income: $4,477, $7,463, $11,529

Balance Sheet as of December 31, 2021, 2022, 2023

• Assets
  • Current Assets: $27,257, $35,942, $45,987
  • Property, Plant, Equipment, Net: $16,360, $19,455, $22,563
  • Intangible Assets: $1,450, $1,368, $1,324
  • Total Assets: $45,067, $56,765, $69,874
• Liabilities and Equity
  • Current Liabilities: $14,912, $19,435, $24,536
  • Long-Term Debt: $5,859, $5,420, $5,013
  • Shareholders' Equity: $24,296, $31,910, $40,325
  • Total Liabilities and Equity: $45,067, $56,765, $69,874

Requirements

1. Calculate the gross profit margin for each year.
2. Determine the research and development expenses as a percentage of sales for each year.
3. Compute the debt to equity ratio for each year.
4. Assess the return on assets for each year.