Question
Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2,450 restaurants. Adapted versions of the company's income statements (in
Chipotle Mexican Grillbegan with a single location in 1993 and now operates more than 2,450 restaurants. Adapted versions of the company's income statements (in $000s) are as follows:
2017
2016
Revenue
$4,476,412$3,904,384Restaurant operating costs
Food, beverage, and packaging
1,535,4281,365,580Labor
1,205,9921,105,001Occupancy
327,132293,636Other operating costs
651,644641,953General and administrative expenses
296,388276,240Depreciation and amortization
163,348146,368Pre-opening costs
12,34117,162Loss on disposal of assets
13,34523,877Total operating expenses4,205,6183,869,817Income from operations
270,79434,567Interest and other income (expense), net
4,9494,172Income before income taxes
275,74338,739Provision for income taxes
99,49015,801Net income$176,253$22,938
Prepare a common-size income statement for each year.(Round answers to 1 decimal place, e.g. 50.1%.)
2017
2016
Revenue
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%Restaurant operating costs
Food, beverage, and packaging
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%Labor
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%General and administrative expenses
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%Depreciation and amortization
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%Pre-opening costs
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%Loss on disposal of assets
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Income from operations
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%Interest and other income (expense), net
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Income before income taxes
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%Provision for income taxes
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%Net incomeenter percentages
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