Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2,450 restaurants. Adapted versions of thecompany's income statements (in $000s) are as follows:20172016Revenue$4,476,412$3,904,384Restaurant operating costsFood, beverage, and packaging1,535,4281,365,580Labor1,205,9921,105,001Occupancy327,132293,636Other operating costs651,644641,953General and administrative expenses296,388276,240Depreciation and amortization163,348146,368Pre-opening costs12,34117,162Loss on disposal of assets13,34523,877Total operating expenses4,205,6183,869,817Income from operations270,79434,567Interest and other income (expense), net4,9494,172Income before income taxes275,74338,739Provision for income taxes99,49015,801Net income$176,253$22,938 Prepare a common-size income statement for each year. (Round answers to 1 decimal place, e.g. 50.1%.)20172016%%RevenueRestaurant operating costs%%Food, beverage, and packaging%%LaborOccupancy%%Other operating costs%%General and administrative expenses%%Depreciation and amortization%%Pre-opening costs%Loss on disposal of assets%%Total operating expenses%%Income from operations%Interest and other income (expense), net%%Income before income taxes%%Provision for income taxes%%Net income

Name: Chipotle Mexican Grill began with a single location in 1993 and now o
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Description: Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2,450 restaurants. Adapted versions of thecompany's income statements (in $000s) are as follows:20172016Revenue$4,476,412$3,904,384Restaurant operating costsFood,

A common-size income statement is used in financial analysis of a company's performance, with each…

Business

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Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2,450 restaura company's income statements (in $000s) are as follows: 2017 2016 Revenue $4,476,412 $3,904,384 Restaurant operating costs Food, beverage, and packaging 1,535,428 1,365,580

Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2,450 restaura company's income statements (in $000s) are as follows: 2017 2016 Revenue $4,476,412 $3,904,384 Restaurant operating costs Food, beverage, and packaging 1,535,428 1,365,580

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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