What was the total balance for Chem Dry as of January 1, 2021?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| (As Restated) | |||
| Assets | |||
| Current Assets | |||
| Cash | $ 3,701 | $ 1,372 | $ 3,467 |
| Restricted cash | 781 | 345 | 372 |
| Accounts receivable - Net | 2,338 | 3,074 | 6,331 |
| Inventory (Note 6) | 5,683 | 4,393 | 2,871 |
| Notes receivable - Current portion net of | 639 | 1,661 | 3,567 |
| allowance (Note 7) | |||
| Prepaid expenses and other current assets | 625 | 346 | 691 |
| Total current assets | 13,767 | 11,191 | 17,299 |
| Right-of-use Assets - Net | 3,098 | 1,379 | 2,392 |
| Property and Equipment - Net (Note 8) | 2,220 | 1,701 | 1,610 |
| Goodwill (Note 9) | 10,519 | 56,056 | 57,322 |
| Intangible Assets - Net (Note 9) | 28,264 | 32,566 | 42,516 |
| Other Assets | |||
| Notes receivable - Net of current portion and | |||
| allowance (Note 7) | 1,336 | 2,747 | 4,580 |
| Amounts due from related parties (Note 14) | 24,688 | 23,843 | 16,717 |
| Deferred commissions | 871 | 1,155 | 1,063 |
| Other noncurrent assets | 216 | 331 | 459 |
| Total assets | $ 84,979 | $ 130,969 | $ 143,958 |
| Liabilities and Stockholders' Equity | |||
| Current Liabilities | |||
| Accounts payable | $ 203 | $ 855 | $ 1,046 |
| Operating lease obligation - Current portion (Note 10) | 1,002 | 1,145 | 1,078 |
| Deferred revenue - Current portion | 1,305 | 2,050 | 2,532 |
| Accrued and other current liabilities: | |||
| Accrued compensation | 1,201 | 1,256 | 1,661 |
| Other accrued liabilities | 2,251 | 1,678 | 1,807 |
| Total current liabilities | 5,962 | 6,984 | 8,124 |
| Operating Lease Obligation - Net of current | 2,166 | 425 | 1,549 |
| portion (Note 10) | |||
| Other Long-term Liabilities | |||
| Deferred revenue - Net of current portion | 3,202 | 4,864 | 6,664 |
| Deferred tax liabilities (Note 11) | 3,266 | 3,001 | 5,596 |
| Total liabilities | 14,596 | 15,274 | 21,933 |
| Stockholders' Equity | 70,383 | 115,695 | 122,025 |
| Total liabilities and stockholders' equity | $ 84,979 | $ 130,969 | $ 143,958 |
Consolidated Statement of Operations
Years Ended December 31, 2023, 2022, and 2021
| 2023 | (As
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the total balance as of January 1, 2021, was $119,084. This figure is derived from the sum of common stock ($5), additional paid-in capital ($114,238), and retained earnings ($4,841).
This information is part of Chem Dry's financial statements, providing a snapshot of the company's financial position at the beginning of the 2021 fiscal year. For a prospective franchisee, this indicates the financial health and stability of Chem Dry at that time.
It's important to note that this balance is just one point in time and does not reflect subsequent financial performance. Reviewing the balances for later dates (December 31, 2021, December 31, 2022, and December 31, 2023) provides a more comprehensive understanding of Chem Dry's financial trajectory.