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Leslie's Burgers operates and franchises fast-food restaurants specializing in grilled hamburgers and chicken sandwiches. The 2015 and 2016 income statements are as follows (in $000s)
Leslie's Burgers operates and franchises fast-food restaurants specializing in grilled hamburgers and chicken sandwiches. The 2015 and 2016 income statements are as follows (in $000s) Year Ended December 31, 2016 December 31, 2015 Total revenues $41,001 $40,183 Expenses Cost of restaurant sales 11,125 11,066 Restaurant operating expenses 16,898 16,726 General and administrative 6,818 5,280 Advertising 2,547 2,652 Depreciation and amortization 2,206 2,096 Impairment of long-lived assets 986 Total expenses 40,580 37,820 $421 $2,363 Operating income (b) One obvious reason that operating income dropped significantly in 2016 is the impairment of long-lived assets. What other operating issues do you believe contributed to the decline in operating income? uld lilko to cho. Worlk Eo +hi .Morld
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