Tesla, Inc. 10-K form for the fiscal year ended 2023-12-31, page 49: Tesla, Inc.

Consolidated Balance Sheets

(in millions, except per share data)
|    |                                                                                                                                                       |                  |         |                  |        |    |        |
|---:|:------------------------------------------------------------------------------------------------------------------------------------------------------|:-----------------|:--------|:-----------------|:-------|:---|:-------|
|  1 |                                                                                                                                                       | December 31,2023 |         | December 31,2022 |        |    |        |
|  2 | Assets                                                                                                                                                |                  |         |                  |        |    |        |
|  3 | Current assets                                                                                                                                        |                  |         |                  |        |    |        |
|  4 | Cash and cash equivalents                                                                                                                             | $                | 16,398  |                  |        | $  | 16,253 |
|  5 | Short-term investments                                                                                                                                | 12,696           |         |                  | 5,932  |    |        |
|  6 | Accounts receivable, net                                                                                                                              | 3,508            |         |                  | 2,952  |    |        |
|  7 | Inventory                                                                                                                                             | 13,626           |         |                  | 12,839 |    |        |
|  8 | Prepaid expenses and other current assets                                                                                                             | 3,388            |         |                  | 2,941  |    |        |
|  9 | Total current assets                                                                                                                                  | 49,616           |         |                  | 40,917 |    |        |
| 10 | Operating lease vehicles, net                                                                                                                         | 5,989            |         |                  | 5,035  |    |        |
| 11 | Solar energy systems, net                                                                                                                             | 5,229            |         |                  | 5,489  |    |        |
| 12 | Property, plant and equipment, net                                                                                                                    | 29,725           |         |                  | 23,548 |    |        |
| 13 | Operating lease right-of-use assets                                                                                                                   | 4,180            |         |                  | 2,563  |    |        |
| 14 | Digital assets, net                                                                                                                                   | 184              |         |                  | 184    |    |        |
| 15 | Intangible assets, net                                                                                                                                | 178              |         |                  | 215    |    |        |
| 16 | Goodwill                                                                                                                                              | 253              |         |                  | 194    |    |        |
| 17 | Deferred tax assets                                                                                                                                   | 6,733            |         |                  | 328    |    |        |
| 18 | Other non-current assets                                                                                                                              | 4,531            |         |                  | 3,865  |    |        |
| 19 | Total assets                                                                                                                                          | $                | 106,618 |                  |        | $  | 82,338 |
| 20 | Liabilities                                                                                                                                           |                  |         |                  |        |    |        |
| 21 | Current liabilities                                                                                                                                   |                  |         |                  |        |    |        |
| 22 | Accounts payable                                                                                                                                      | $                | 14,431  |                  |        | $  | 15,255 |
| 23 | Accrued liabilities and other                                                                                                                         | 9,080            |         |                  | 8,205  |    |        |
| 24 | Deferred revenue                                                                                                                                      | 2,864            |         |                  | 1,747  |    |        |
| 25 | Current portion of debt and finance leases                                                                                                            | 2,373            |         |                  | 1,502  |    |        |
| 26 | Total current liabilities                                                                                                                             | 28,748           |         |                  | 26,709 |    |        |
| 27 | Debt and finance leases, net of current portion                                                                                                       | 2,857            |         |                  | 1,597  |    |        |
| 28 | Deferred revenue, net of current portion                                                                                                              | 3,251            |         |                  | 2,804  |    |        |
| 29 | Other long-term liabilities                                                                                                                           | 8,153            |         |                  | 5,330  |    |        |
| 30 | Total liabilities                                                                                                                                     | 43,009           |         |                  | 36,440 |    |        |
| 31 | Commitments and contingencies (Note 15)                                                                                                               |                  |         |                  |        |    |        |
| 32 | Redeemable noncontrolling interests in subsidiaries                                                                                                   | 242              |         |                  | 409    |    |        |
| 33 | Equity                                                                                                                                                |                  |         |                  |        |    |        |
| 34 | Stockholders' equity                                                                                                                                  |                  |         |                  |        |    |        |
| 35 | Preferred stock; $0.001 par value; 100 shares authorized; no shares issued and outstanding                                                            | -                |         |                  | -      |    |        |
| 36 | Common stock; $0.001 par value; 6,000 shares authorized; 3,185 and 3,164 shares issued and outstanding as of December 31, 2023 and 2022, respectively | 3                |         |                  | 3      |    |        |
| 37 | Additional paid-in capital                                                                                                                            | 34,892           |         |                  | 32,177 |    |        |
| 38 | Accumulated other comprehensive loss                                                                                                                  | (143)            |         |                  | (361)  |    |        |
| 39 | Retained earnings                                                                                                                                     | 27,882           |         |                  | 12,885 |    |        |
| 40 | Total stockholders' equity                                                                                                                            | 62,634           |         |                  | 44,704 |    |        |
| 41 | Noncontrolling interests in subsidiaries                                                                                                              | 733              |         |                  | 785    |    |        |
| 42 | Total liabilities and equity                                                                                                                          | $                | 106,618 |                  |        | $  | 82,338 |
The accompanying notes are an integral part of these consolidated financial statements.
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Question: What was Tesla's quick ratio in 2022?
Answer: To calculate Tesla's quick ratio for 2022, we use the formula: Quick Ratio = (Total Current Assets - Inventory) / Total Current Liabilities. For 2022, Quick Ratio = ($40,917 million - $12,839 million) / $26,709 million = 1.05.