Refer to the financial information for Chipotle and Panera Bread reproduced at the back of this book.

Required
1. What is the balance in Cash and cash equivalents on the balance sheet of each company at the end of the most recent year? What is the amount of increase or decrease in this balance from the end of the prior year?
2. On what other statement in each company’s annual report does the increase or decrease in Cash and cash equivalents appear? Explain why it appears on this statement.
3. According to the notes to their financial statements, how does each company define ‘‘Cash and cash equivalents’’? Are there any differences in their definitions?