What were the total liabilities for Big Frog Custom T Shirts More in 2021?
Big_Frog_Custom_T_Shirts_More Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| ASSETS | |||
| Current Assets | |||
| Cash and equivalents | $ 1,136,530 | $ 1,188,045 | $ 1,421,326 |
| Accounts receivable (net of credit allowance of | |||
| $25,000, $25,000, and $65,000, respectively) | 70,449 | 64,625 | 28,136 |
| Inventories | 19,967 | 20,367 | 23,001 |
| Prepaid expenses and other current assets | 113,866 | 74,032 | 90,552 |
| Certificate of deposit | 261,894 | 250,000 | - |
| Current portion of note receivable | 7,492 | - | - |
| Total current assets | 1,610,198 | 1,597,069 | 1,563,015 |
| Property and Equipment, Net | 90,995 | 99,759 | 75,350 |
| Other Assets | |||
| Note receivable, net of current portion | 42,508 | - | - |
| Intangible assets, net | 6,704 | 12,391 | 18,219 |
| Operating lease right-of-use asset | 88,648 | 176,379 | - |
| 137,860 | 188,770 | 18,219 | |
| $ 1,839,053 | $ 1,885,598 | $ 1,656,584 | |
| LIABILITIES AND STOCKHOLDERS' EQUITY | |||
| Current Liabilities | |||
| Accounts payable | $ 66,725 | $ 22,566 | $ 35,559 |
| Accrued expenses | 33,216 | 31,020 | 23,666 |
| Current portion of deferred revenue | 49,558 | 70,496 | 38,485 |
| Current portion of notes paya |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2024 FDD)
According to Big Frog Custom T Shirts More's 2024 Franchise Disclosure Document, the company's total liabilities as of December 31, 2021, were $168,998. This figure is an important indicator of the company's financial obligations to creditors and other parties at that specific point in time.
For a prospective franchisee, understanding the franchisor's liabilities can offer insights into the financial stability and risk profile of the company. A high level of liabilities might suggest a greater financial strain, while a lower figure could indicate a more secure financial position. It is important to note that this is a snapshot in time, and liabilities can fluctuate.
Therefore, a potential Big Frog Custom T Shirts More franchisee should consider this number in conjunction with other financial metrics, such as assets, equity, and revenue, to gain a comprehensive understanding of the franchisor's financial health. It would be prudent to compare these figures over several years to identify any trends and to discuss the implications of these liabilities with a financial advisor.