What was the total balance for Canine Dimensions on January 1, 2022?
Canine_Dimensions Franchise · 2025 FDDAnswer from 2025 FDD Document
| P. Guida | TOTAL | |
|---|---|---|
| Balance-January 1, 2022 | 483,569 | 483,569 |
| Contributions | - | - |
| Distributions to Member's | (505,656) | (505,656) |
| Net Income | 209,365 | 209,365 |
| Balance-December 31, 2022 | 187,278 | 187,278 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 35)
What This Means (2025 FDD)
According to Canine Dimensions' 2025 Franchise Disclosure Document, the total balance on January 1, 2022, was $483,569. This figure represents the company's overall financial standing at the beginning of the 2022 fiscal year.
For a prospective franchisee, understanding the initial balance is crucial as it provides a baseline for evaluating the company's financial performance throughout the year. It also gives insight into the financial health of Canine Dimensions before any contributions, distributions, or net income were accounted for during that period.
It's important to note that this balance is a snapshot in time and doesn't reflect the complete financial activities of Canine Dimensions. Reviewing the changes in equity, including contributions, distributions, and net income, provides a more comprehensive understanding of the company's financial dynamics.