What were the total liabilities and members' equity for The C12 Group, LLC in 2023?
C12_Group Franchise · 2025 FDDAnswer from 2025 FDD Document
| 10 1000 | | Other assets | 17,653 | 13,984 | | Total other assets | 661,738 | 801,124 | | | | | | Total Assets | $ 3,501,390 | $ 3,534,314 |
THE C12 GROUP, LLC Balance Sheets December 31, 2023 and 2022
| LIABILITIES AND MEMBERS' EQUITY | 2023 | 2022 |
|---|---|---|
| Current Liabilities: Accounts payable Accrued liabilities Unearned revenue Right-of-use operating lease liabilities, current portion Total current liabilities | $ 259,919 | $ 292,315 |
| 147,458 | 187,482 | |
| 238,717 | 914,503 | |
| 132,737 | 131,566 | |
| 778,831 | 1,525,866 | |
| Long-Term Liabilities: Right-of-use operating lease liabilitie |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to C12 Group's 2025 Franchise Disclosure Document, the total liabilities and members' equity for the company in 2023 was $3,501,390. This figure represents the sum of all the company's liabilities (its obligations to creditors) and the equity held by its members (owners) at the end of the 2023 fiscal year. This number is down from the 2022 total liabilities and member's equity of $3,534,314.
Breaking down the liabilities, C12 Group had current liabilities totaling $778,831 in 2023. These are obligations due within one year, including accounts payable ($259,919), accrued liabilities ($147,458), unearned revenue ($238,717), and the current portion of right-of-use operating lease liabilities ($132,737). Additionally, the company had long-term liabilities of $33,449, representing the portion of right-of-use operating lease liabilities due after one year.
Members' equity for C12 Group in 2023 amounted to $2,689,110. This represents the ownership stake in the company held by its members after deducting all liabilities from its assets. The total liabilities and members' equity provides a snapshot of the company's financial health and its ability to meet its obligations while maintaining a positive equity balance for its members. Prospective franchisees may want to compare these figures to previous years to identify trends and assess the company's financial stability.