What was the amount of 360 Painting's accounts payable in 2022?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2024 | 2023 | |
|---|---|---|
| Liabilities and Members' Deficit | ||
| Current liabilities | ||
| Accounts payable | $ 434,745 $ | 435,883 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, 360 Painting's financial statements are consolidated with its affiliate, Premium Service Brands, LLC. The consolidated financial statements include data for 2024 and 2023, but not 2022. Therefore, the FDD does not disclose the accounts payable for 360 Painting in 2022.
However, the 2025 FDD does include the accounts payable for 2023 and 2024. The accounts payable for 2023 was $435,883 and for 2024 was $434,745.
A prospective franchisee may want to contact the franchisor to obtain the specific accounts payable figure for 2022 to better understand the company's financial history. Reviewing several years of financial data can provide a more comprehensive view of the company's financial trends.