Looking at Chipotles 2017 Income & Balance sheet,

Which sections will be effected if Chipotle started to serve breakfast and why?

2017 2016 2015 Weighted-Average Exercise Price Per Share Weighted-Average Exercise Price Per Share Weighted-Average Exercise Price Per Share Outstanding, beginning of year Granted Exercised Forfeited or cancelled Outstanding, end of year Shares 1,917 304 (35) (187) $490.06 $426.70 $307.83 $527.53 $480.09 Shares 1,694 460 (124) (113) 1,917 $490.70 457.77 $ 315.87 $559.25 $490.06 Shares 2,087 379 (716) $395.46 $659.12 $297.25 $554.73 $490.70 1,999 1,694 Weighted- Average Remaining Weighted-Average Years of Aggregate Exercise Price Per Contractual Intrinsic Outstanding as of December 31, 2017 Vested and expected to vest as of December 31, 2017 Exercisable as of December 31, 2017 Shares 1,999 1,957 1,130 Share $480.09 480.77 $474.20 Life 3.7 3.7 2.7 Value $209 $209 $209 CHIPOTLE MEXICAN GRILL, INC. CONSOLIDATED STATEMENT OF INCOME (in thousands, except per share data) Year ended December 31, 2016 $4,476,412 $3,904,384 $4,501,223 2017 2015 Revenue Restaurant operating costs (exclusive of depreciation and amortization shown separately below): Food, beverage and packaging Labor Occupancy Other operating costs 1,535,428 1365,580 1,503,835 1,205,992 1,105,001 1,045,726 262,412 514,963 250,214 146,368 130,368 16,922 13,194 4,205,618 3,869,817 3,737,634 63,589 6,278 769,867 327,132 651,644 296,388 163,348 12,341 13,345 293,636 641,953 276,240 General and administrative expenses Depreciation and amortization Pre-opening costs Loss on disposal and impairment of assets 7,162 23,877 Total operating expenses Income from operations Interest and other income, net Income before income taxes Provision for income taxes Net income Earnings per share: Basic Diluted Weighted average common shares outstanding Basic Diluted 270,794 4,949 275,743 (99,490) 34,567 4,172 38,739 (15,801) (294,265) $ 176,25322,938 475,602 $6.190.78$ 15.30 $6.17 $0.77 15.10 28,491 28,561 29,265 29,770 31,092 31,494 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (in thousands) Year ended December 31 2016 $176,253 $22,938 $475,602 2017 2015 Net income Other comprehensive income (loss), net of income taxes: 4,689 Foreign currency translation adjustments Unrealized gain (loss) on available-for-sale securities (1,291) 251 849) (6,322) 468 946 74 Tax benefit (expense) Other comprehensive income (loss), net of income taxes 4,503 111 (7,844) $180,756 $23,049 $467,758 Comprehensive income CHIPOTLE MEXICAN GRILL, INC. CONSOLIDATED BALANCE SHEET (in thousands, except per share data) December 31, 2017 2016 Assets Current assets: Cash and cash equivalents S 184,569 87,880 Accounts receivable, net of allowance for doubtful accounts of $O and $259 as of 40,453 19,860 50,918 9,353 324,382 629,535 December 31, 2017 and 2016, respectively 40,451 15,019 44,080 5,108 329,836 522,374 1,338,366 1,303,558 125,055 Inventory Prepaid expenses and other current assets Income tax receivable Investments Total current assets Leasehold improvements, property and equipment, net Long term investments Other assets Goodwill Total assets Liabilities and shareholders' equity Current liabilities: 55,852 21,939 53 21,939 $2,045,692 $ 2,026,103 $ 82,028$78,363 01 127,129 281,793 288,927 18,944 33,946 623,610 Accounts payable Accrued payroll and benefits Accrued liabilities Total current liabilities Deferred rent Deferred income tax liability Other liabilities Total liabilities Shareholders' equity: 82,541 159,324 323,893 316,498 814 40,042 681,247 Preferred stock, $O.01 par value, 600,000 shares authorized, no shares issued as of December 31, 2017 and 2016, respectivel Common stock $0.01 par value, 230,000 shares authorized, and 35,852 and 35,833 shares issued as of December 31, 2017 and 2016, respectively Additional paid-in capital Treasury stock, at cost, 7,826 and 7,019 common shares at December 31, 2017 and 2016, respectively Accumulated other comprehensive income (loss) Retained earnings 359 358 1,305,090 1,238,875 (2,334,409) (2,049,389) (8,162 2,220,811 1,364,445 1,402,493 $2,045,692 $ 2,026,103 659) 2,397,064 Total shareholders' equit Total liabilities and shareholders' equit ITEM 6. SELECTED FINANCIAL DATA Our selected consolidated financial data shown below should be read together with Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our consolidated financial statements and respective notes included in item 8"Financial Statements and Supplementary Data." The data shown below are not necessarily indicative of results to be expected for any future period (dollar and share amounts in thousands, except per share data) Year ended December 31, 2017 2015 2013 Statement of Income: Revenue Food, beverage and packaging costs Labor costs Occupancy costs 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, net Income before income taxes Provision for income taxes Net income Earnings per share $4,476,412 $3,904,384 $ 4,501,223 $4,108,269 $3,214,591 1,535,428 1,365,580 1,503,835 1,420,994 1,073,514 739,800 199,107 434,244 347,401 296,388 276,240 250,214 273,897203,733 96,054 15,511 1,205,992 1,105,0011,045,726 904,407 36 262,412 230,868 327,132 651,644 293,6 641,953 514,963 12,341 13,345 146,368 130,368 16,922 13,194 17,162 23,877 110,474 15,609 6,976 4,205,618 3,869,817 3,737,634 3,397,469 2,681,871 270,794 4,949 275,743 (99,490) $ 176,253 763,589 710,800 532,720 38,739 769,867 714,303 534,47 22,938 $ 475,602 $445,374 $ 327,438 34,567 6,278 3,503 (15,801) (294,265) (268,929) (207,033) 15.30 14.35 10.58 Diluted $ 6.17 $ 0.77 $ 15.10$14.13 $ 10.47 Weighted average common shares outstanding 28,491 28,561 29,265 31,092 31,494 31,038 30,957 Diluted December 31, 2017 2016 2015 2014 2013 Balance Sheet Data: Total current assets Total assets Total current liabilities Total liabilities Total shareholders' equit 629,535 $ 522,374 $ 814,647 $859,511 $ 653,095 $2,045,692 $2,026,103 $2,725,066 $2,527,317 $1,996,068 323,893 281,793 $ 279,942 245,710 $ 681,247 $ 623,610 $ 597,092 $ 514,948 $ 457,780 364,445 $1,402,493 $ 2,127,974$2,012,369 $1,538,288 Total Number of Shares Purchased as Part of Approximate Dollar Value of Shares that May Yet Be Plans or Programs) $170,567,974 Total Number of Average Price PaidPublicly Announced Purchased Under the Shares Purchased Per Share Plans or Programs $ 303.31 $279.97 $307.66 $296.56 October 81,953 81,953 Purchased 10/1 through 10/31 Purchased 11/1 through 11/30 Purchased 12/1 through 12/31 91,427 $ 144,971,147 $118,274,235 $118,274,235 November 91,427 December 86,775 86,775 Total 260,155 260,155