Looking at this another way, assume that most of Chipotle's operating expenses are fixed in nature and are expected to be as follows:

Chipotle Mexican Grill:

Year 2019 Projected for 2020

Sales

Food, bev,pacl $ 1,847,916 .33 of sales

Labor $ 1,472,060 .27 of sales

Occupancy cost $ 363,072 fixed

Other operating $ 760,831 fixed

Gen and Admin $ 451,552 fixed

Depreciation/amort $ 212,778 fixed

Preopening cost $ 11,108 fixed

Loss on disposal $ 23,094 fixed

What level of sales would be necessary to earn $8 per share in 2020? (Again, hold the share count constant)

Shares outstanding

27,807,666