What was the restated amount of Canopy Lawn Care's member's equity in 2021 after the change?

According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the restated balance of the consolidated member's equity as of September 30, 2021, was $90,167,353. This figure reflects an adjustment of $26,757 due to a prior period adjustment related to a change in accounting policy. The initial balance, as previously stated, was $90,140,596 before the restatement.

For a prospective Canopy Lawn Care franchisee, understanding these restatements and accounting adjustments is crucial for assessing the financial health and stability of the franchisor. The change in accounting policy, as detailed in Note 10 of the financial statements, impacts how the company's financials are presented and compared across different periods.

The restatement indicates that Canopy Lawn Care made changes to its accounting methods, which can affect key financial metrics such as net income and member's equity. While the specific nature of the accounting policy change is further detailed in Note 10, it generally involves how the company accounts for income taxes. This retrospective application ensures that financial statements from previous years are comparable to the current year, providing a more accurate picture of the company's financial performance over time.

It's important for potential franchisees to review these financial statements and related notes carefully, possibly with the assistance of a financial advisor, to fully understand the implications of these adjustments and how they might affect the franchisor's financial position and future performance. Understanding the franchisor's financial stability is a key factor in evaluating the overall risk and potential return of investing in a Canopy Lawn Care franchise.