What was the total amount of Bumper Man's current assets in 2022?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
and, in my opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.
Kyle E. Patton, C.P.A. February 24, 2025
BALANCE SHEET
ASSETS
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Current Assets | |||
| Cash | $ 1,835,250 | $ 1,534,492 | $ 2,063,455 |
| Accounts receivables - less allowance for bad | 2,006,051 | 2,109,811 | 1,912, |
Source: Item 23 — RECEIPTS (FDD pages 45–180)
What This Means (2025 FDD)
According to Bumper Man's 2025 Franchise Disclosure Document, the company's total current assets in 2022 were $4,031,200. This figure represents the sum of cash, accounts receivables (less allowance for bad debts), other current assets, and notes receivables. Understanding the composition and value of current assets is crucial for prospective franchisees as it provides insight into the company's short-term financial health and liquidity.
Specifically, the current assets include cash totaling $2,063,455, accounts receivables (less allowance for bad debts of $120,987) totaling $1,912,177, notes receivables totaling $55,568 and other current assets totaling $0. These figures indicate the resources Bumper Man has available to meet its short-term obligations and fund its ongoing operations.
Reviewing the balance sheet and understanding these asset values helps potential franchisees assess the financial stability of Bumper Man. It is important to note that these figures are based on an audit conducted by Kyle E. Patton, C.P.A., and represent the financial position of Bumper Man, Inc. as of December 31, 2022. Prospective franchisees should analyze these figures in conjunction with other financial statements and information provided in the FDD to make an informed investment decision.