What was the net income (loss) for Bombs Away Franchising LLC on December 31, 2023?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
BOMBS AWAY FRANCHISING LLC STATEMENT OF SHAREHOLDERS' EQUITY DECEMBER 31, 2023
| Balance | Changes | Total | |
|---|---|---|---|
| Balance, December 31, 2022 | $ 50,000 | $ - | $ 50,000 |
| Net Income For The Period Ended December 31, 2023 | - | (27,161) | (27,161) |
| Equity Contributions (Distributions) | - | (91,721) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the company experienced a net loss for the period ending December 31, 2023. The provided statement of shareholder's equity details these financial results.
Specifically, Bombs Away's net income for the period ended December 31, 2023, was a loss of $27,161. This figure is crucial for prospective franchisees as it provides insight into the company's financial performance during that year. Understanding the net income (or loss) helps potential investors assess the financial stability and profitability of Bombs Away.
Additionally, the statement shows the beginning balance on December 31, 2022, was $50,000. Equity contributions (or distributions) amounted to $(91,721). The ending balance on December 31, 2023, was $(68,882). These figures, along with the net loss, offer a comprehensive view of the changes in the company's equity over the course of the year. This information is typically audited by an independent accountant, adding credibility to the reported figures.