What is the earliest year for which financial data is presented for Bor Restoration in this table?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
ative expenses | 592,756 | 263,246 | 108,423 | | Marketing expenses | 23,702 | 4 | 4,155 | | Total Operating Expenses | 834,562 | 520,649 | 251,820 | | NET INCOME | $ 386,160 | $ 420,082 | $ 291,217 |
| Beginning owners' equity | $ 304,641 | $ | 220,953 | $ 244,736 |
|---|---|---|---|---|
| Net contributions (distributions) | (52,004) | (336,394) | (315,000) | |
| Net income | 386,160 | 420,082 | 291,217 | |
| ENDING OWNERS' EQUITY | $ 638,797 | $ | 304,641 | $ 220,953 |
| 2022 | 2021 | 2020 | |||
|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||
| Net income | $ | 386,160 | $ | 420,082 | $ 291,217 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||
| Amortization | 2,738 | ||||
| Changes in operating assets and liabilities: | |||||
| Accounts receivable | (33,624) | (25,761) | (10,293) | ||
| Prepaid expenses | 117,025 | (119,713) | |||
| Other assets | (14,028) | (10,205) | (8,013) | ||
| Accounts payable | 466 | (5,476) | 16 |
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to Bor Restoration's 2024 Franchise Disclosure Document, the financial data presented in the provided table includes figures from as early as 2020. Specifically, the table provides a summary of cash flows from operating and financing activities, along with the net increase or decrease in cash and the cash balance at the end of the year for 2020, 2021, and 2022.
This historical financial data is crucial for prospective Bor Restoration franchisees as it offers insights into the company's financial performance over the three-year period. By examining trends in net income, cash flow, and owner distributions, potential franchisees can gain a better understanding of the financial stability and growth potential of Bor Restoration.
It's important to note that while the table provides a snapshot of Bor Restoration's financial performance, it does not include detailed information about revenue, expenses, or other key financial metrics. Therefore, prospective franchisees should carefully review the complete financial statements and consult with a financial advisor to make an informed investment decision.