What information is provided in Chipotle’s basic 2021 financial statements?

Chipotle Mexican Grill, Inc. (NYSE: CGM) is a publicly held corporation with more than $6 billion in assets.

Chipotle sign

To follow are Chipotle’s four basic financial statements for its most recent year, the year ending December 31, 2021.  Please note that all statements have been adapted and condensed for educational use and should not be used for investment decisions.

Financial statements images, see link immediately after image for link to financial statements in Excel format.

Chipotle’s complete, unabridged financial statements can be found on its investor relations website.

Note: The financial statements above can also be downloaded in Excel formatfor enhanced readability and accessibility.

View these quick tutorial videos about financial statements and then answer the following questions.

  • Form of business organization (link)
  • Income statement (link)
  • Statement of retained earnings (link)
  • Balance sheet (link)
  • Statement of cash flows (link)
  • How financial statements are interrelated (link)


1. What form of business organization is Chipotle’s? How do you know?

2. Identify the line item that flows from the income statement to the statement of retained earnings.

3. Identify the line item that flows from the statement of retained earnings to the balance sheet.

4. Identify the line item that flows from the balance sheet to the statement of cash flows.

5. Did Chipotle’s have net income or net loss for 2021? Over what time period was this amount earned?

6. Write the accounting equation for Chipotle’s as of December 31, 2021.

Copyright 2022 Wendy M. Tietz, LLC

About Dr. Wendy Tietz, CPA, CMA, CSCA, CGMA

Dr. Wendy Tietz is a professor of accounting at Kent State University in Kent, Ohio, USA. She is also a textbook author with Pearson Education.

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