factual

What was the ending retained earnings for Burros Fries?

Burros_Fries Franchise · 2024 FDD

Answer from 2024 FDD Document

ITEM 21 FINANCIAL STATEMENTS

Our certified, independent, audited financial statements for the period from January 1, 2021 to December 31, 2021, audited financial statements for the period from January 1, 2022 to December 31, 2022, and audited financial statements for the period from January 1, 2023 to December 31, 2023, and unaudited financials for the period of January 1, 2024 to October 31, 2024 are attached to this Disclosure Document as Exhibit G. Our fiscal year end is December 31. We have not been in business for three complete years or more and therefore cannot include all the financial statements required by the Rule for our last three fiscal years.

EXHIBIT G

Financial Statements

Source: Item 21 — FINANCIAL STATEMENTS (FDD page 53)

What This Means (2024 FDD)

Based on the 2024 Franchise Disclosure Document, the financial statements of Burros Fries are included as Exhibit G. The FDD includes audited financial statements for the period from January 1, 2021, to December 31, 2021, audited financial statements for the period from January 1, 2022, to December 31, 2022, and audited financial statements for the period from January 1, 2023, to December 31, 2023, and unaudited financials for the period of January 1, 2024, to October 31, 2024.

However, the excerpt does not specify the exact amount of ending retained earnings for any of the periods mentioned. The financial statements themselves would contain this information, but they are not included in a way that allows me to extract the figure directly.

For a prospective Burros Fries franchisee, it's crucial to review the full audited financial statements within Exhibit G of the FDD. Specifically, look for the 'Statement of Operations and Retained Earnings' for each year to understand the company's profitability and how retained earnings have trended over time. Understanding this trend can help in assessing the financial stability and growth potential of Burros Fries.

To get a clearer picture, a potential franchisee should ask Burros Fries for the specific ending retained earnings figures for the years included in the FDD. Also, inquire about the factors that influenced changes in retained earnings, such as net income, dividends, or other adjustments. This will provide a more comprehensive understanding of the company's financial performance.

Disclaimer: This information is extracted from the 2024 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.