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Chipotle Mexican Grill began with a single location in 1993 and now operates more than 1,700 restaurants. Adapted versions of the company's income statements (in
Chipotle Mexican Grill began with a single location in 1993 and now operates more than 1,700 restaurants. Adapted versions of the company's income statements (in $000s) are as follows: 2015 2014 Revenue $4,501,223 $4,108,269 Restaurant operating costs Food, beverage, and packaging Labor 1,503,835 1,045,726 262,412 514,963 1,420,994 904,407 230,868 434,244 Occupancy Other operating costs General and administrative expenses Depreciation and amortization Pre-opening costs Loss on disposal of assets 250,214 130,368 16,922 13,194 273,897 110,474 15,609 6,976 Total operating expenses Income from operations Interest and other income (expense), net Income before income taxes Provision for income taxes 3,737,634 763,589 6,278 769,867 294,265 $475,602 3,397,469 710,800 3,503 714,303 268,929 $445,374 Net income Prepare a common-size income statement for each year. (Round answers to 1 decimal place, e.g. 50.1%.) 2015 2014 Revenue Restaurant operating costs Food, beverage, and packaging Labor Occupancy 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 Click if you would like to Show Work for this question: Open Show Work
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