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Assumptions 2016 Complete a forecast fore 2017 for Chipotle. Indicate implications for External financing Needed (EFN) and the choice of financing form if the company will need one. Sales Growth Rentention ratio Taxes Payout ratio 100% 40.79% 0.00% 2017 20% 75% 21.00% 25.00% % of sales CMG Income Statement (IS) as of 12/31/2016 Total Revenue $3,904,384 Direct Costs $3,406,170 Gross Profit - Selling General & Admin $276,240 - Depreciation & Amortization $146,368 - Other Operating Expense $41,039 Total Indirect Operating costs Operating Income - Total Non-Operating Income $4,172 - Earnings Before Tax $4,172 Taxation Net Income Average Shares Basic 29,265 - EPS Net Basic $0.000 = Average Shares Diluted 29,770 - EPS Net Diluted $0.000 - Shares Outstanding 28,814 Chipotle Mexican Grill Inc. (CMG) Standardized Balance Sheet (B/S) as of 12/31/2016 Current Assets % of sales STOCKHOLDERS LIABILITY % of sales Cash & Equivalents $87,880 Accounts Payable $78,363 Short Term Investments $329,836 Accrued Expenses $203,430 Cash & Equivs & ST Investments Total Current Liabilities Receivables (ST) $40,451 Deferred LT Liabilities $18,944 Inventories $15,019 Other Liabilities $322,873 Current Tax Assets $5,108 Total LT liabilities Other Current Assets $44,080 Total Liabilities Total Current Assets Stockholder's Equity Fixed Assets Common Share & Additional Paid-In Capital $1,239,233 Gross Property Plant & Equip $2,149,027 Retained Earnings $2,220,811 Accumulated Depreciation $845,469 Accum Other Comprehensive Income -$8,162 Net Property Plant & Equip Total retained Earnings Long Term Investments $125,055 Treasury Stock $2,049,389 Intangible Assets $21,939 For Curr Trans (BS) -$8,042 Other Assets $53,177 Other Equity $8,042 Total Fixed Assets Total Equity Total Assets Total Liabilities & Equity % of sales % of sales CMG Pro-Forma Income Statement (2017) Cotal Revenue Direct Costs Gross Profit elling General & Admin Depreciation & Amortization Other Operating Expense Cotal Indirect Operating Costs Operating Income otal Non-Operating Income Earnings Before Tax axation Het Income Average Shares Basic 29,265 EPS Net Basic $0.000 Average Shares Diluted 29,770 EPS Net Diluted $0.000 hares Outstanding 28,814 Chipotle Mexican Grill Inc. Pro-Forma Balance Sheet (2017) Current Assets % of sales STOCKHOLDERS LIABILITY & EQUITY Cash & Equivalents Accounts Payable Short Term Investments Accrued Expenses Cash & Equivs & ST Investments Total Current Liabilities Receivables (ST) Deferred LT Liabilities Inventories Other Liabilities Current Tax Assets Total LT liabilities Other Current Assets Total Liabilities Total Current Assets Stockholder's Equity Fixed Assets Common Share & Additional Paid-In Capital Gross Property Plant & Equip Retained Earnings Accumulated Depreciation Accum Other Comprehensive Income Net Property Plant & Equip Total retained Earnings Long Term Investments Treasury Stock Intangible Assets For Curr Trans (BS) Other Assets Other Equity Total Fixed Assets Total Equity Total Liabilities & Equity Total Assets Will Chipotle need external Financing (EFN) from the pro-forma estimates? If so, how much EFN will chipotle need (account for addition of retained earnings) Complete a forecast fore 2017 for Chipotle. Indicate implications for External financing Needed (EFN) and the choice of financing form if the company will need one. $87 0 Chipotle Mexican Grill Inc (CMG) Standardized Balance Sheet(BIS) as of 12/31/2016 Current Assets % of sales STOCKHOLDERS LIABILITY Cash & Equivalents Accounts Payable $78,363 Short Term Investments $329.836 Accrued Expenses $203 430 Cash & Equivs & ST Investments Receivables (ST) 540,451 Deferred LT Liabilities $18.944 Inventories $15,019 Other Liabilities $322 323 Current Tax Assets 55.100 Other Current Assets $44 OBO Total Liabilities Total Current Assets Stockholder's Equity Fixed Assets Common Share & Additional Paid-in Capital $1,239 233 Gross Property Plant & Equip $ 149,027 Retained Earnings $2220 811 Accumulated Depreciation $945.469 Accun Other Comprehensive Income $8.162 Net Property Plant & Equip Total retained Earnings Long Term Investments $125 OSS Treasury Stock $2,049 389 Intangible Assets $21.939 For Curr Trans (85) -58.042 Other Assets Other Equity $8,042 Total Fixed Assets Total Equity Total Asts Tataliabilities & Equity SSSSSSWONE BEBWN- Current Assets Cash & Equivalents Short Term Investments Cash & Equivs & ST Investments Receivables (ST) Inventories Current Tax Assets Other Current Assets Total Current Assets Fixed Assets Gross Property Plant & Equip Accumulated Depreciation Net Property Plant & Equip Long Term Investments Intangible Assets Other Assets Totalfixed Assets Total Asses Chipotle Mexican G ino Pro-Forma balance sheet (2017) sales STOCKHOLDERS LIABILITY & EQUITY Accounts Payable Accrued Expenses Total Current Liabilities Deferred LT Liabilities Other Liabilities Total LT liabilities Total abilities Stockholder's Equity Common Share & Additional Paid in Capital Retained Earnings Accun Other Comprehensive Income Total retained Earnings Treasury Stock For Curr Trans (BS) Other Equity Total Equity Total Liabilities & Foully Will Chipotle need external Financing (EFN) from the pro-forma estimates? of so, how much EFN will chipotle need (account for addition of retained earnings Assumptions 2016 Sales Growth Rentention ratio Taxes Payout ratio 2017 20% 75% 21.00% 100% 40.79% 0.00% 25.00% % of sales CMG Income Statement (IS) as of 12/31/2016 9 Total Revenue $3,904,384 10 Direct Costs $3,406,170 11 Gross Profit 12 Selling General & Admin $276,240 13 Depreciation & Amortization $146,368 14 Other Operating Expense $41,039 15 Total Indirect Operating costs 16 Operating Income 17 Total Non-Operating Income $4,172 18 Earnings Before Tax $4,172 19 Taxation 20 Net Income 21 Average Shares Basic 29,265 22 EPS Net Basic $0.000 23 Average Shares Diluted 29,770 24 EPS Net Diluted $0.000 25 Shares Outstanding 28,814 % of sales 30 31 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 CMG Pro-Forma Income Statement (2017) Total Revenue Direct Costs Gross Profit Selling General & Admin Depreciation & Amortization Other Operating Expense Total Indirect Operating costs Operating Income Total Non-Operating Income Earnings Before Tax Taxation Net Income Average Shares Basic EPS Net Basic $0.000 Average Shares Diluted 29,770 EPS Net Diluted $0.000 Shares Outstanding 28,814 29,265 Will Chic Assumptions 2016 Complete a forecast fore 2017 for Chipotle. Indicate implications for External financing Needed (EFN) and the choice of financing form if the company will need one. Sales Growth Rentention ratio Taxes Payout ratio 100% 40.79% 0.00% 2017 20% 75% 21.00% 25.00% % of sales CMG Income Statement (IS) as of 12/31/2016 Total Revenue $3,904,384 Direct Costs $3,406,170 Gross Profit - Selling General & Admin $276,240 - Depreciation & Amortization $146,368 - Other Operating Expense $41,039 Total Indirect Operating costs Operating Income - Total Non-Operating Income $4,172 - Earnings Before Tax $4,172 Taxation Net Income Average Shares Basic 29,265 - EPS Net Basic $0.000 = Average Shares Diluted 29,770 - EPS Net Diluted $0.000 - Shares Outstanding 28,814 Chipotle Mexican Grill Inc. (CMG) Standardized Balance Sheet (B/S) as of 12/31/2016 Current Assets % of sales STOCKHOLDERS LIABILITY % of sales Cash & Equivalents $87,880 Accounts Payable $78,363 Short Term Investments $329,836 Accrued Expenses $203,430 Cash & Equivs & ST Investments Total Current Liabilities Receivables (ST) $40,451 Deferred LT Liabilities $18,944 Inventories $15,019 Other Liabilities $322,873 Current Tax Assets $5,108 Total LT liabilities Other Current Assets $44,080 Total Liabilities Total Current Assets Stockholder's Equity Fixed Assets Common Share & Additional Paid-In Capital $1,239,233 Gross Property Plant & Equip $2,149,027 Retained Earnings $2,220,811 Accumulated Depreciation $845,469 Accum Other Comprehensive Income -$8,162 Net Property Plant & Equip Total retained Earnings Long Term Investments $125,055 Treasury Stock $2,049,389 Intangible Assets $21,939 For Curr Trans (BS) -$8,042 Other Assets $53,177 Other Equity $8,042 Total Fixed Assets Total Equity Total Assets Total Liabilities & Equity % of sales % of sales CMG Pro-Forma Income Statement (2017) Cotal Revenue Direct Costs Gross Profit elling General & Admin Depreciation & Amortization Other Operating Expense Cotal Indirect Operating Costs Operating Income otal Non-Operating Income Earnings Before Tax axation Het Income Average Shares Basic 29,265 EPS Net Basic $0.000 Average Shares Diluted 29,770 EPS Net Diluted $0.000 hares Outstanding 28,814 Chipotle Mexican Grill Inc. Pro-Forma Balance Sheet (2017) Current Assets % of sales STOCKHOLDERS LIABILITY & EQUITY Cash & Equivalents Accounts Payable Short Term Investments Accrued Expenses Cash & Equivs & ST Investments Total Current Liabilities Receivables (ST) Deferred LT Liabilities Inventories Other Liabilities Current Tax Assets Total LT liabilities Other Current Assets Total Liabilities Total Current Assets Stockholder's Equity Fixed Assets Common Share & Additional Paid-In Capital Gross Property Plant & Equip Retained Earnings Accumulated Depreciation Accum Other Comprehensive Income Net Property Plant & Equip Total retained Earnings Long Term Investments Treasury Stock Intangible Assets For Curr Trans (BS) Other Assets Other Equity Total Fixed Assets Total Equity Total Liabilities & Equity Total Assets Will Chipotle need external Financing (EFN) from the pro-forma estimates? If so, how much EFN will chipotle need (account for addition of retained earnings) Complete a forecast fore 2017 for Chipotle. Indicate implications for External financing Needed (EFN) and the choice of financing form if the company will need one. $87 0 Chipotle Mexican Grill Inc (CMG) Standardized Balance Sheet(BIS) as of 12/31/2016 Current Assets % of sales STOCKHOLDERS LIABILITY Cash & Equivalents Accounts Payable $78,363 Short Term Investments $329.836 Accrued Expenses $203 430 Cash & Equivs & ST Investments Receivables (ST) 540,451 Deferred LT Liabilities $18.944 Inventories $15,019 Other Liabilities $322 323 Current Tax Assets 55.100 Other Current Assets $44 OBO Total Liabilities Total Current Assets Stockholder's Equity Fixed Assets Common Share & Additional Paid-in Capital $1,239 233 Gross Property Plant & Equip $ 149,027 Retained Earnings $2220 811 Accumulated Depreciation $945.469 Accun Other Comprehensive Income $8.162 Net Property Plant & Equip Total retained Earnings Long Term Investments $125 OSS Treasury Stock $2,049 389 Intangible Assets $21.939 For Curr Trans (85) -58.042 Other Assets Other Equity $8,042 Total Fixed Assets Total Equity Total Asts Tataliabilities & Equity SSSSSSWONE BEBWN- Current Assets Cash & Equivalents Short Term Investments Cash & Equivs & ST Investments Receivables (ST) Inventories Current Tax Assets Other Current Assets Total Current Assets Fixed Assets Gross Property Plant & Equip Accumulated Depreciation Net Property Plant & Equip Long Term Investments Intangible Assets Other Assets Totalfixed Assets Total Asses Chipotle Mexican G ino Pro-Forma balance sheet (2017) sales STOCKHOLDERS LIABILITY & EQUITY Accounts Payable Accrued Expenses Total Current Liabilities Deferred LT Liabilities Other Liabilities Total LT liabilities Total abilities Stockholder's Equity Common Share & Additional Paid in Capital Retained Earnings Accun Other Comprehensive Income Total retained Earnings Treasury Stock For Curr Trans (BS) Other Equity Total Equity Total Liabilities & Foully Will Chipotle need external Financing (EFN) from the pro-forma estimates? of so, how much EFN will chipotle need (account for addition of retained earnings Assumptions 2016 Sales Growth Rentention ratio Taxes Payout ratio 2017 20% 75% 21.00% 100% 40.79% 0.00% 25.00% % of sales CMG Income Statement (IS) as of 12/31/2016 9 Total Revenue $3,904,384 10 Direct Costs $3,406,170 11 Gross Profit 12 Selling General & Admin $276,240 13 Depreciation & Amortization $146,368 14 Other Operating Expense $41,039 15 Total Indirect Operating costs 16 Operating Income 17 Total Non-Operating Income $4,172 18 Earnings Before Tax $4,172 19 Taxation 20 Net Income 21 Average Shares Basic 29,265 22 EPS Net Basic $0.000 23 Average Shares Diluted 29,770 24 EPS Net Diluted $0.000 25 Shares Outstanding 28,814 % of sales 30 31 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 CMG Pro-Forma Income Statement (2017) Total Revenue Direct Costs Gross Profit Selling General & Admin Depreciation & Amortization Other Operating Expense Total Indirect Operating costs Operating Income Total Non-Operating Income Earnings Before Tax Taxation Net Income Average Shares Basic EPS Net Basic $0.000 Average Shares Diluted 29,770 EPS Net Diluted $0.000 Shares Outstanding 28,814 29,265 Will Chic
