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Exercise D12-4 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

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Exercise D12-4 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 Occupancy Other operating costs General and administrative expenses Depreciation and amortization 1,503,835 1,420,994 1,045,726 904,407 262,412230,868 514,963 434,244 250,214 273,897 110,474 15,609 6,976 3,737,634 3,397,469 763,589 710,800 3,503 769,867 714,303 294,265 268,929 5475,602 445,374 130,368 16,922 13,194 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 6,278 Net income

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