What was the total equity for Cd One Price Cleaners as of December 29, 2023?
Cd_One_Price_Cleaners Franchise · 2025 FDDAnswer from 2025 FDD Document
| Members' equity at December 31, 2021 | $ 390,846 |
|---|---|
| Capital contributed | - |
| Capital withdrawals | (1,005,000) |
| Net income, as restated (See Note 11) | 271,884 |
| Members' equity at December 30, 2022, as restated | (342,270) |
| Capital contributed | 185,944 |
| Capital withdrawals | (999,900) |
| Net income | 1,375,739 |
| Members' equity at December 29, 2023 | $ 219,513 |
Source: Item 22 — Contracts (FDD page 72)
What This Means (2025 FDD)
According to Cd One Price Cleaners' 2025 Franchise Disclosure Document, the total members' equity as of December 29, 2023, was $219,513. The document also provides a breakdown of the changes in members' equity from December 31, 2021, to December 29, 2023.
Specifically, the members' equity at December 31, 2021, was $390,846. During the period leading up to December 30, 2022, there were capital withdrawals of $1,005,000 and a net income of $271,884, resulting in a restated members' equity of ($342,270) as of December 30, 2022.
From December 30, 2022, to December 29, 2023, there were capital contributions of $185,944, capital withdrawals of $999,900, and a net income of $1,375,739, which led to the members' equity of $219,513 as of December 29, 2023. This detailed breakdown allows potential franchisees to understand the financial activities affecting the equity of Cd One Price Cleaners over the specified periods.