What was the beginning owners' equity for Bor Restoration in 2021?

According to Bor Restoration's 2024 Franchise Disclosure Document, the beginning owners' equity in 2021 was $220,953. This figure represents the net worth of Bor Restoration at the start of the 2021 financial year, reflecting the cumulative investment and retained earnings from previous years. It serves as the baseline against which the company's financial performance for 2021 is measured.

Throughout 2021, Bor Restoration experienced a net contribution (distribution) of ($336,394), indicating that the owners withdrew more funds than they invested during the year. However, the company also generated a net income of $420,082. This net income helped to offset the negative impact of the owner's distributions on the equity.

Despite the owners' withdrawals, Bor Restoration's financial performance resulted in an increase in owners' equity during 2021. The ending owners' equity for 2021 was $304,641, reflecting the net effect of the beginning equity, owner distributions, and net income. This indicates that Bor Restoration was profitable and grew its net worth even after accounting for distributions to its owners.