In this Research Assignment you will research answers to the six questions about Chipolte's abridged financial statements ( see attachment).

Chipotle Mexican Grill, Inc. (NYSE: CGM) is a publicly held corporation with more than $6 billion in assets.

The four basic financial statements for Chipolte's most recent year, the year ending December 31, 2021 can be found in the attachment. Please note that all statements have been adapted and condensed for educational use and should not be used for investment decisions.

Chipotle's complete, unabridged financial statements can be found on itsinvestor relations website.

View these quick tutorial videos about financial statements and then answer the following questions.

• Form of business organization https://youtu.be/yimx8EMjWNM?si=e0kS3l4EG-19PqRd Income statement https://youtu.be/tin2_DNCSr8?si=txKZWWWFl1iSMZt8 Statement of retained earnings https://youtu.be/Izm-Q_VV7i0?si=tEuhLup2FpikMLve Balance sheet https://youtu.be/CHEANKi9xVw?si=Mw8d3kjLjtI1wvDo Statement of cash flows https://youtu.be/jSyKWF7X4Rc?si=rWG1VNaXNAcrWLzJ How financial statements are interrelated https://youtu.be/Y90ler2rxbQ?si=5iI4TXQ3woImy5CU

Questions

1. What form of business organization is Chipotle's? How do you know?

2. Identify the line item that flows from the income statement to the statement of retained earnings.

3. Identify the line item that flows from the statement of retained earnings to the balance sheet.

4. Identify the line item that flows from the balance sheet to the statement of cash flows.

5. Did Chipotle's have net income or net loss for 2021? Over what time period was this amount earned?

6. Write the accounting equation for Chipotle's as of December 31, 2021 (using numbers).