What was the depreciation expense for Canine Dimensions in 2022?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 3 Summary of Significant Accounting Policies (continued):
Fixed Assets
The Company capitalizes assets that have a useful life beyond one year. Fixed assets consist of an automobile that is recorded at cost and depreciated using primarily the straight line method over five years.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, Canine Dimensions' financial statements are audited for the years 2022, 2023 and 2024. The company's accounting policies state that fixed assets, consisting of an automobile, are depreciated using the straight-line method over five years.
However, the provided excerpts from the FDD do not include the specific depreciation expense amount for Canine Dimensions in 2022. The excerpts focus on the company's accounting methods, revenue recognition, and related party transactions, but do not detail the specific figures for depreciation expenses.
A prospective franchisee should review the complete audited financial statements in Exhibit B of the FDD, specifically the income statement or statement of cash flows, to find the depreciation expense for 2022. If the information is not available, they should ask the franchisor directly for this figure to understand the company's expenses and profitability.