What was the total value of Canopy Lawn Care's inventory in 2023, as restated?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
LLC CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2024, 2023, AND 2022
ASSETS
| 2024 | 2023 ("As Restated") | 2022 ("As Restated") | |
|---|---|---|---|
| Current Assets | |||
| Cash | $ 2,941,232 | $ 1,737,401 | $ 1,492,295 |
| Royalties and accounts receivable, net | 10,215,595 | 8,416,631 | 5,544,544 |
| Rebates receivable, net | 1,889,160 | 1,815,484 | - |
| Notes receivable | 97,904 | 24,492 | 231,429 |
| Inventory | 3,461,346 | 3,215,098 | 950,753 |
| Prepaid expenses and other | 854,615 | 2,211,505 | 1,43 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 55)
What This Means (2025 FDD)
According to Canopy Lawn Care's 2025 Franchise Disclosure Document, the value of the company's inventory in 2023, as restated, was $3,215,098. This figure is part of the company's current assets, which totaled $17,420,611 in 2023.
Inventory value is a key indicator of a company's financial health, reflecting the value of raw materials, work in progress, and finished goods available for sale. For a prospective Canopy Lawn Care franchisee, understanding the inventory value can provide insights into the scale of operations and the resources required to manage and maintain the necessary stock for providing lawn care services.
It's important to note that this figure is 'as restated,' which means it has been adjusted to reflect changes in accounting policies or to correct errors in previous financial statements. Franchisees should inquire about the reasons for the restatement to fully understand the financial history and current standing of Canopy Lawn Care.