Reference no: EM132772517

Below, you can find excerpts from the FY '13 annual report filed by Tesla Motors, Inc. "During the year ended December 31, 2013, we recognized total revenues of $2.01 billion, an increase of $1.60 billion over total revenues of $413.3 million for the year ended December 31, 2012, primarily driven by the ramp up in Model S deliveries which commenced in North America in June 2012 and the launch of European Model S deliveries which commenced in August 2013, regulatory credit sales and powertrain component sales to Toyota Motor Corporation (Toyota) for the Toyota RAV4 EV; partially offset by a decrease in development services activity related to the Daimler AG (Daimler) Mercedes-Benz B-Class EV program.

• Gross margin for the year ended December 31, 2013 was 22.7%, a significant increase from 7.3% for the year ended December 31, 2012.
• Research and development (R&D) expenses for the year ended December 31, 2013 were $232.0 million, a decrease from $274.0 million for the year ended December 31, 2012." Other selling, general and administrative were as follows (in thousands): FY 2013 FY 2012

Other selling, general and administrative $285,569 $150,372

Problem 1) Reconstruct the Income Statement of Tesla for year 2013 and 2012 (up to the Operating Income level. Classify R&D expenses as SG&A expenses. For simplicity, you can report values in thousands of $)