What were the total retained earnings for Circle K as of April 24, 2022?
Circle_K Franchise · 2025 FDDAnswer from 2025 FDD Document
nada July 7, 2025
1 CPA Auditor, public accountancy permit No. A123475
TMC FRANCHISE CORPORATION (a wholly owned subsidiary of Circle K Stores Inc.) CONSOLIDATED BALANCE SHEETS
| April 27, 2025 | April 28, 2024 | |
|---|---|---|
| ASSETS | ||
| Cash | $ - | $ - |
| Royalty and other receivables | 11,184,013 | 8,632,081 |
| Deferred income taxes (Note 3) | 2,603,791 | 2,827,683 |
| Total Current Assets | 13,787,804 | 11,459,764 |
| Property and equipment, net (Note 4) | 12,287,489 | 14,462,542 |
| Intangible assets, net (Note 5) | 10,640,706 | 14,399,954 |
| Note receivable from parent company (Note 8) | 5,000,000 | 5,000,000 |
| Other assets (net of a provision for doubtful accounts of $20,814 | 19,353,216 | 18,074,122 |
| and $20,814 as at April 27, 2025, and April 28, 2024 (Note 6) | ||
| Goodwill | 11,490,467 | 11,490,467 |
| Total Assets | $ 72,559,682 | $ 74,886,849 |
| LIABILITIES AND SHAREHOLDER'S EQUITY | ||
| Accounts payable and accrued liabilities (Note 7) | $ 27,642,008 | $ 30,818,812 |
| Payable to affiliate | 2,450,540 | 2,333,349 |
| Deferred revenue | 1,228,332 | 1,247,292 |
| Total Current Liabilities | 31,320,880 | 34,399,453 |
| Deferred revenue | 6,992,157 | 7,720,471 |
| Deferred income taxes (Note 3) | 2,396,831 | 3,224,997 |
| Total Liabilities | 40,709,868 | 45,344,921 |
| Shareholder's Equity: | ||
| Common stock, $0.01 par value, 1,000,000 shares | ||
| authorized, 1,001 issued and outstanding | 10 | 10 |
| Additional paid-in capital | 88,201,000 | 88,201,000 |
| Receivabl |
Source: Item 21 — FINANCIAL STATEMENTS (FDD pages 99–100)
What This Means (2025 FDD)
According to Circle K's 2025 Franchise Disclosure Document, the consolidated financial statements include data up to April 27, 2025, April 28, 2024, and April 30, 2023. The document does not contain the specific figure for retained earnings as of April 24, 2022.
However, the consolidated balance sheets included in the FDD show the retained earnings for April 28, 2024, and April 27, 2025. As of April 28, 2024, Circle K's retained earnings were $35,228,153, and as of April 27, 2025, the retained earnings were $35,316,368.
To obtain the retained earnings for April 24, 2022, a prospective franchisee should directly request this information from Circle K. Understanding the trend in retained earnings can provide insights into the financial stability and profitability of the company, which is crucial for making an informed investment decision.