What were Bumper Man's total assets as of December 31, 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 | 1,912,177 |
| debts of $159,129, $129,645, and $120,987 | |||
| Other current assets | 122,200 | 100,000 | - |
| Notes receivables | 45,903 | 40,656 | 55,568 |
| 4,009,404 | 3,784,959 | 4,031,200 | |
| Property and Equipment | |||
| Cost | 571,819 | 584,223 | 542,869 |
| Accumulated depreciation | (476,804) |
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 assets as of December 31, 2022, were $4,159,927. The FDD also includes total asset figures for the two subsequent years. As of December 31, 2023, Bumper Man's total assets were $3,940,777, and by December 31, 2024, the total assets had increased to $4,174,039.
In addition to the total asset figures, the balance sheet provides a breakdown of assets into current assets, property and equipment, and other assets. For December 31, 2022, the current assets totaled $4,031,200, which included cash, accounts receivables less allowance for bad debts, other current assets, and notes receivables. The property and equipment, after accounting for accumulated depreciation, was valued at $73,567. Other assets, specifically notes receivable and other assets, amounted to $55,160.
Prospective franchisees may find this information useful for assessing the financial stability and overall health of Bumper Man. Reviewing the trend in total assets over the three-year period, along with the composition of those assets, can provide insights into the company's financial management and growth. It is important to note that these figures reflect the financial position of the franchisor, Bumper Man, Inc., and not the financial performance of individual franchise locations.