Please help, 10K for Tesla. A little confused on the percentages! For each of the selected items on the income statement, determine its percentage relative to salesrevenue for the most recent year and the next most recent year. If an item is not reported, draw a linethrough it.Amount fromAmount fromthe MostRecent YearPercent ofthe Next MostPercentIncome Statement LineSalesRecent Yearof SalesSales or Revenue31.54B100.00%%24.58 B100.00%Cost of Sales24.91B78.97%20.51 B83.44%Gross Profit6,63B21.02%4,069M16.55%Operating Expenses4,64B69.98%1,491M36.64%Inc from Operations1,994B29.26%(69)M49.16%Other Inc/Expense(122)M0%22M31.34%Income before Tax1,154B57.87%(1,005) M%Provision for Tax292 M25.30%110 M%Other Items141M12.2%87 M%%Net Income721 M6.2%(862) M%

Common size income statement refers to the statement where every line item is stated as percentage…

Answered: h it. Amount from Amount from the Most…

h it. Amount from Amount from the Most Percent of the Next Most e Statement Line Recent Year Sales Recent Year or Reyenue 31.54B 190.00% % 24.58 B

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 38E: Sundahl Companys income statements for the past 2 years are as follows: Refer to the information for...

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Question

Please help, 10K for Tesla. A little confused on the percentages!

For each of the selected items on the income statement, determine its percentage relative to sales
revenue for the most recent year and the next most recent year. If an item is not reported, draw a line
through it.
Amount from
Amount from
the Most
Recent Year
Percent of
the Next Most
Percent
Income Statement Line
Sales
Recent Year
of Sales
Sales or Revenue
31.54B
100.00%
%
24.58 B
100.00
%
Cost of Sales
24.91B
78.97%
20.51 B
83.44%
Gross Profit
6,63B
21.02%
4,069M
16.55%
Operating Expenses
4,64B
69.98%
1,491M
36.64%
Inc from Operations
1,994B
29.26%
(69)M
49.16%
Other Inc/Expense
(122)M
0%
22M
31.34%
Income before Tax
1,154B
57.87%
(1,005) M
%
Provision for Tax
292 M
25.30%
110 M
%
Other Items
141M
12.2%
87 M
%
%
Net Income
721 M
6.2%
(862) M
%

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