In late 2015 and 2016, Chipotle Mexican GrillLinks to an external site. a popular restaurant experienced a dramatic change in fortunes seen in its 2019 Statement of Income (Chipotle, Item 6, Selected Financial DataLinks to an external site., p. 28). As an optional exercise in thought and exploration that you are not responsible for reporting on in this discussion, see if you can identify this change and the likely reason for it by consulting the Statement of Income and materials found in its 2016 10-K.

(2019). 10-K Chipotle - Item#8Links to an external site.. Chipotle Corporation.

(2016). 10-K Chipotle - Item#7Links to an external site.. Chipotle Corporation.

Examining the Table of Contents, you may notice phrases such as risk, and financial condition and results of operations offering insight into a firms financial condition or results. What do you think may have happened that affected this firm so dramatically? How is this depicted in the firms financial statements? Does this illustrate a longer term risk or characteristic associated with this firm? These questions are for you to think about, and you do not have to supply formal answers.

Chipotle is a listed firm, and thus you will find its financial information published electronically either on the firms website or through the Securities and Exchange Commissions (SEC) EDGAR DatabaseLinks to an external site..