This case should be completed after responding to the requirements in Decision Case 13-2. Refer to the financial statement information of Chipotle and Panera Bread reprinted at the back of the book.

Required

1. Using the format in Example 13-5, prepare common-size comparative income statements for 2015 and 2014, for Panera Bread. Use total revenues as the base (i.e., 100%). Round all percentages to the nearest one-tenth of a percent.

2. The common-size comparative income statements indicate the relative importance of items on the statement. Compare the common-size income statements of Panera Bread and Chipotle. What are the most important differences between the two companies' income statements?

3. Using the format in Example 13-4, prepare common-size comparative balance sheets at the end of 2015 and 2014, for Panera Bread. Round all percentages to the nearest one-tenth of a percent.

4. The common-size comparative balance sheets indicate the relative importance of items on the statement. Compare the common-size balance sheets of Panera Bread and Chipotle. What are the most important differences between the two companies' balance sheets?