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Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2 450 restaurants. Adapted versions of the company's income statements

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Chipotle Mexican Grill began with a single location in 1993 and now operates more than 2 450 restaurants. Adapted versions of the company's income statements (in $000s) are as follows: 2017 2016 Revenue $4,476,412 $3.904,384 Restaurant operating costs Food, beverage, and packaging 1.535,428 1,365,580 Labor 1.205.992 1.105.001 327.132 293.636 651.644 641.953 296,388 276,240 163,348 146,368 Occupancy 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 (expense), net 12,341 17.162 13,345 23,877 4,205,618 3,869,817 270,794 34,567 4949 4,172 Income before income taxes 275,743 38,739 Provision for income taxes 99,490 15,801 Net income $176,253 $22,938 Prepare a common-size income statement for each year. (Round answers to 1 decimal place, e.g. 50.1%.) 2017 2016 Revenue % Restaurant operating costs Food, beverage, and packaging % % % % Labor de % % re Occupancy % % % Other operating costs % % General and administrative expenses % % Depreciation and amortization % 96 Pre-opening costs % % Loss on disposal of assets % % Total operating expenses % % Income from operations % % Interest and other income (expense), net % % Income before income taxes % % Provision for income taxes % % Net income % %

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