On what page of the Best Brains financial statements is the Balance Sheet located?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
6,346.64 | | Reimbursements | 38,416.52 | | Rent Expense | 48,041.43 | | Repairs & Maintainence | 4,354.07 | | Shipping & Customs | 21,169.57 | | Subcontractors | 24,675.00 | | SupportServices | 3,175.00 | | Taxes | 120.65 | | Telephone | 153.37 | | Travel Expenses | 31,198.22 | | Tuition Fee Reimbursement | 1,270,656.16 | | Utilities | 7,949.46 | | Total for Expenses | $3,302,923.16 | | Net Operating Income | $127,602.17 | | Other Income | | | Other Expenses | | | Ask My Accountant | 118,759.99 | | Total for Other Expenses | $118,759.99 | | Net Other Income | -$118,759.99 | | Net Income | $8,842.18 |
CONTENTS
| INDEPENDENT AUDITOR'S REPORT ON FINANCIAL STATEMENTS | 1-2 |
|---|---|
| FINANCIAL STATEMENTS | |
| Balance Sheet | 3 |
| Statement of Operations | 4 |
| Statement Of Stockholders' Equity | 5 |
| Statement of Cash Flows | 6 |
| Notes to Financial Statements | 7-11 |
ACCUTAX BIZSOLUTIONS LLC
Address: 1001 S. MAIN ST. STE 600 KALISPELL, MT 59901 Phone: (646) 543-5898
INDEPENDENT AUDITOR'S REPORT
To, The Board of Directors, Best Brains Inc. 135 East Algonquin Rd Arlington Heights, IL
Report on Financial Statements
We have audited the financial statements of Best Brains Inc., which comprise the balance sheet as of December 31, 2024, and 2023, and the related statements of operations, statement of stockholders' equity, and cash flows for the year then ended, and the related notes to the financial statements.
In our opinion, the financial statement referred to above present fairly, in all material respects, the financial position of Best Brains Inc., as of December 31, 2024, and 2023 and the results of its operations and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 42)
What This Means (2025 FDD)
According to Best Brains' 2025 Franchise Disclosure Document, the audited financial statements include a balance sheet as of December 31, 2024, and 2023. The independent auditor's report related to these statements is found on page 140. Additionally, Exhibit H contains the audited financial statements for the fiscal years ending December 31, 2024, 2023, and 2022, along with an unaudited Balance Sheet as of March 31, 2025, and an unaudited Profit & Loss Statement for the period from January 1, 2025, to March 31, 2025.
Prospective franchisees should note that the financial statements include both audited and unaudited components. The unaudited portions come with a disclaimer stating that no certified public accountant has audited these figures or expressed an opinion on their content or form. This means that while the audited statements have been verified by an independent accountant, the unaudited statements have not undergone the same level of scrutiny.
For a potential Best Brains franchisee, understanding the distinction between audited and unaudited statements is crucial for assessing the financial health and performance of the company. While the audited statements provide a higher level of assurance, the unaudited statements can still offer valuable insights into the company's recent financial activities. It is advisable to carefully review both sets of statements and consult with a financial advisor to fully understand their implications.