Tesla Inc. provided the following details as of December 31, 2023:

Financial Item	Amount ($)
Revenue	100,000,000
Cost of Goods Sold	60,000,000
Research and Development	12,000,000
Selling, General and Administrative Expenses	20,000,000
Interest Expense	3,000,000
Tax Expense	5,000,000
Dividends Paid	8,000,000
Retained Earnings at Start	15,000,000

Requirements:

1. Prepare a comprehensive Income Statement.
2. Calculate the Operating Income.
3. Prepare a Statement of Retained Earnings.
4. Determine the Earnings per Share if there are 40,000 shares outstanding.
5. Assess the effect of increasing research and development expenses by 10% on net income.