What was the total value of 360 Painting's current assets in 2023?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
tinue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.
Charlottesville, Virginia
April 8, 2024
| | 2023 | 2022 | |---
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, the total current assets for 2023 were $6,046,599. This figure represents the sum of cash and cash equivalents, accounts receivable, and prepaid expenses and other current assets.
Understanding a company's assets is crucial for potential franchisees. Current assets are those that can be converted into cash within a year, indicating the company's short-term financial health and liquidity. A higher value of current assets suggests that 360 Painting has a strong ability to meet its immediate obligations.
For a prospective 360 Painting franchisee, this information provides insight into the financial stability of the franchisor. It's important to analyze these figures in conjunction with the company's liabilities and overall financial performance to get a comprehensive understanding of its financial health. Reviewing these figures over several years, as presented in the FDD, can reveal trends and provide a more informed perspective.