Economics 118 Assignment 7

  • May 16, 2021

Use the included Chipotle’s Financials Assignment 7 to complete this homework assignment. As you will see, I have already prepared the common-sized balance sheets for Chipotle, which completes the set (balance sheets, income statements, SOCFs, Summary Analysis are also included). 1. Use Excel to calculate the balance sheet ratios listed below the balance sheet for Chipotle. Nearly all of them should be extremely easy since you simply need to pull balance sheet numbers from same schedule. The schedule is set up on the BS (included the same way as Deckers’ ratios on that balance sheet – on GS, first week’s materials). In some cases, you will need to click on the income statement number needed from that statement. Again, once you have formulas for the 2020 ratios, you should be able to copy and paste the formulas in that column to the other years to complete the ratios. If you’re not sure how to do the formulas, you should be able to click on my ratios for Deckers and see the formulas. If you already know how to do the formulas, you should be able to complete this part in around 10 minutes. 2. Analyze Chipotle’s balance sheet. Go through the same process we’ve done in class (and outlined in my handbook). That is, look for material items, change, and importance. Per my review, like Deckers, it appears that there are quite a few immaterial items. For this portion, identify the items (or line items) requiring analysis and tell me why you chose them. Then discuss whether you can figure out what is going on with these items by checking across the other statements. If not, briefly scan through the 10-K to see if you can find more detail. Please note, the detail might not be there, so do not spend a lot of time looking. The statement of stockholder’s equity is not included. If that would help (i.e., the equity accounts), just go to Chipotle’s 10-Ks on sec.gov. To the extend applicable, be sure to compare the balance sheet ratios to McDonald’s ratios that I also provided on the BS. That is, you would only use those to the extent they support your analysis of the line items determined above. For example, if you deem accounts payable immaterial or otherwise not worthy of specific analysis, you can ignore the Days Payable Outstanding ratio (and corresponding McD ratio). Although most of this assignment will be graded on effort alone (I’m assuming you can do the ratios), you do not need to write pages of analysis. One written page in a format similar to this – single-spaced, 12-point Times New Roman font – is sufficient. This assignment is just over 500 words, so I would assume a full page would be about 500-600 words in this format. Please download your completed Excel spreadsheet (Part 1) and a Word document (Part 2). You should be able to complete this assignment fairly quickly (about an hour or so) . . . I want you working on your project at this point

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